International banking during the Global Financial Crisis: UK and US perspectives

We provide insights into international bank lending and borrowing, taken from the perspective of banks domiciled in the United Kingdom and the United States. Banks based in these countries are the major recipients and source of international bank lending and borrowing. We also show how these flows have been affected by the Global Financial Crisis. The results have particular interest for regulators, since much of the debate on the scale and scope of international banking concerns the absolute level of exposures, rather than net exposures. (C) 2012 Elsevier Inc. All rights reserved.