Paul Lachine

无国界银行家

法兰克福——在2008—2009金融危机顶峰时期,人们都以为西方银行要卷起海外股份回国了,金融市场要陷入各回各家之局了。但是,德意志银行研究所的一份最新报告显示,银行跨国业务(不管是直接业务还是通过分行和子公司进行的业务)大体上已经企稳了。

在危机中,传统私人部门贷款等资本密集型领域的银行活动积极度下降得最为厉害。其中又以贷向非金融企业的贷款受创最重,而家庭贷款——传统上这一领域国际化程度较低——则依然活跃。

银行活动积极度的下降部分要归因于外国公债持有量相对私人债务的上升。危机前,银行通常是外国国债的净卖方,但在2008—2009年却在大举买入。2010年,随着欧洲主权债务危机开始发酵,银行对公债的兴趣再次减退。

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