The financial stability report of the Banco de la República of Colombia (BR) provides broad coverage of macroeconomic environment and the assessment of risks in the financial system. The BR should continue developing data and enhancing forward-looking analytical approaches, sharpen messages on...

We examine the determinants of cross-border interbank and intra-group funding across crisis and non-crisis periods. Using a previously unexplored data set spanning 25 banking systems, we find aggregate intra-group funding is unrelated to fluctuations in either global or local macroeconomic...

Countries around the world have tended to become more closely linked through the movement of goods, capital and people over time. It is often argued that this globalisation is a seemingly irreversible trend that can only move in one direction, especially in international finance. For example,...