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Banking Distress in Europe in the Context of the Global Financial Crisis – the Role of Capital Flows

Author

Listed:
  • Mislav Brkić

    (Croatian National Bank)

Abstract

This paper describes three different channels through which the global financial crisis affected European banks. The first channel was related to the direct losses that they took as a result of their exposure to mortgage-backed securities in the US. The second channel was related to the deterioration of global liquidity conditions after the failure of Lehman Brothers in September 2008. Finally, the third channel appeared in countries with severe macroeconomic imbalances, whose sharp correction during the financial crisis caused a deep recession, resulting in significant credit losses in their banks. A better understanding of these issues is required in order to define appropriate policies to enhance the resilience of European banks.

Suggested Citation

  • Mislav Brkić, 2019. "Banking Distress in Europe in the Context of the Global Financial Crisis – the Role of Capital Flows," Surveys 36, The Croatian National Bank, Croatia.
    • Handle: RePEc:hnb:survey:36
    as

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    File URL: http://www.hnb.hr/repec/hnb/wpaper/pdf/s-036.pdf
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    Citations

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    Cited by:

    1. Mislav Brkic, 2021. "Costs and benefits of government borrowing in foreign currency: is it a major source of risk for EU member states outside the Euro?," Public Sector Economics, Institute of Public Finance, vol. 45(1), pages 63-91.

    More about this item

    Keywords

    CompNet; banking crisis; capital flows; financial integration;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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