Cetorelli, Nicola; Goldberg, Linda S. - Federal Reserve Bank of New York - 2009
include both cross-border lending, which has long been recognized as responding significantly to shocks at home or abroad, and … internal capital-market lending, which is the internal flow of funds within a banking organization (such as between a … occurred in the United States in 2007 and 2008, have reduced lending in local markets through contractions in cross …