International Banking and Cross-Border Effects of Regulation: Lessons from Italy

Marianna Caccavaio, Luisa Carpinelli and Giuseppe Marinelli
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Marianna Caccavaio: Banca d’Italia
Luisa Carpinelli: Banca d’Italia

International Journal of Central Banking, 2017, vol. 13, issue 2, 223-247

Abstract: In this paper we study how foreign lending by Italian banks adjust to prudential policy changes of destination markets over the period 2000–14. We find a positive prudential spillover effect: Italian banks tend to lend more to countries that tighten a prudential measure. The impact is not very large nevertheless, and it is driven by cross-border lending and lending by hosted branches that are not directly affected by the changes in regulations. This evidence highlights the need for international cooperation among authorities.

Date: 2017
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