This paper looks at the vulnerabilities stemming from banking sector linkages between countries and their macroeconomic effects. It finds that credit risks (fro

International banks greatly reduced their direct cross-border and local affiliates’ lending as the global financial crisis strained balance sheets, lowered bo

Effective cross-border financial surveillance requires the monitoring of direct and indirect systemic linkages. This paper illustrates how network analysis coul

The current report finds that, despite an improvement in economic prospects in some key advanced economies, new challenges to global financial stability have ar

The analysis of interconnectedness and contagion is an important part of the financial stability and risk assessment of a country’s financial system. This pap