Booking positions in small offshore financial centres: focus on US global banks

Carmela D'Avino and Mimoza Shabani

International Journal of Banking, Accounting and Finance, 2024, vol. 14, issue 1, 28-57

Abstract: Small offshore centres are home to the leading booking centres of global banks and facilitate their transactions across offices worldwide. This paper investigates the factors driving booking positions in offices located in small offshore centres, with a focus on US global banks. We find that global banks tend to increase their booking positions when liquidity conditions at the global and parent levels deteriorate and when banks' risk-taking increases through leverage. Our results suggest that lower tax levels and higher secrecy explain booking centres' localisation in small offshore countries.

Keywords: small offshore centres; prudential regulation; global banks; booking positions. (search for similar items in EconPapers)
Date: 2024
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Working Paper: Booking positions in small offshore financial centers: focus on US global banks (2023)
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