open areas, because geographically diversified banks were more elastic in their lending response to household’s increased …

capital inflows improves (tightens) US dollar funding conditions for non-US global banks, leading them to increase (decrease …. Importantly, this synchronization is driven by non-US global banks’ common but heterogenous exposure to US dollar funding … conditions, not by the common exposure of borrowing countries to non-US global banks. Our results identify a novel channel of …