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Bank cost of capital and international competition

Author

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  • Robert N. McCauley
  • Steven A. Zimmer

Abstract

The rising share of U.S. corporate loans booked by foreign-owned banks and the withdrawal of U.S. banks from foreign lending raise concerns about the competitiveness of U.S. banks. This article investigates how differential capital costs may have placed U.S. banks at a disadvantage relative to their foreign competitors. The authors compare the capital costs facing commercial banks in the United States and five other industrial countries and present explanations for the observed differences.

Suggested Citation

  • Robert N. McCauley & Steven A. Zimmer, 1990. "Bank cost of capital and international competition," Quarterly Review, Federal Reserve Bank of New York, vol. 15(Win), pages 33-59.
    • Handle: RePEc:fip:fednqr:y:1990:i:win:p:33-59:n:v.15no.3-4
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    Citations

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    Cited by:

    1. Krink, Thiemo & Paterlini, Sandra & Resti, Andrea, 2008. "The optimal structure of PD buckets," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2275-2286, October.
    2. Moshirian, Fariborz & Bishop, Robert, 1997. "International business: determinants of interbank activities," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 7(4), pages 329-349, December.
    3. Minh To, Huong & Tripe, David, 2002. "Factors influencing the performance of foreign-owned banks in New Zealand," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(4-5), pages 341-357.
    4. Peek, Joe & Rosengren, Eric S. & Kasirye, Faith, 1999. "The poor performance of foreign bank subsidiaries: Were the problems acquired or created?," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 579-604, February.
    5. Robert N. McCauley & William R. White, 1997. "The Euro and European financial markets," BIS Working Papers 41, Bank for International Settlements.
    6. Abel Elizalde & Rafael Repullo, 2007. "Economic and Regulatory Capital in Banking: What Is the Difference?," International Journal of Central Banking, International Journal of Central Banking, vol. 3(3), pages 87-117, September.
    7. M. Koetter, 2004. "The Stability of Efficiency Rankings when Risk-Preference are Different," Working Papers 04-08, Utrecht School of Economics.
    8. Moshirian, Fariborz, 1997. "Foreign direct investment in insurance services in the United States," Journal of Multinational Financial Management, Elsevier, vol. 7(2), pages 159-173, June.
    9. Williams, Barry, 1998. "A pooled study of the profits and size of foreign banks in Australia," Journal of Multinational Financial Management, Elsevier, vol. 8(2-3), pages 211-231, September.
    10. George Furstenberg, 1998. "From Worldwide Capital Mobility to International Financial Integration: A Review Essay," Open Economies Review, Springer, vol. 9(1), pages 53-84, January.
    11. Fung, Justin G. & Bain, Elisa A. & Onto, John G. & Harper, Ian R., 2002. "A decade of internationalization: the experience of an Australian retail bank," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(4-5), pages 399-417.

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