International banking with the euro

Patrick McGuire and Nikola Tarashev

BIS Quarterly Review, 2007

Abstract: The structure of the international banking market has evolved in important ways since the introduction of the euro in 1999. In comparison to legacy currencies, the use of the euro in cross-border banking transactions grew on aggregate, and the bilateral linkages within the euro area became more dispersed in the years after its introduction. However, growth in the use of the euro globally has plateaued more recently. In addition, measures of banks' presence in foreign credit markets reveal few signs of greater integration of the euro area banking system since 1999.

JEL-codes: F34 G15 G21 (search for similar items in EconPapers)
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