Around The World In 8,379 Foreign Entities

Around The World In 8,379 Foreign Entities by Preston Mui and Friederike Niepmann, Liberty Street Economics

H/T Barry Ritholtz

The largest U.S. financial institutions conduct business around the world, maintaining a strong presence through branches and subsidiaries in foreign countries. This blog post highlights trends in their foreign ownership over the past twenty-five years, complementing recent research from the New York Fed on large and complex banks. We document a constant decline in the importance of foreign branches for U.S. financial institutions, an increase in the complexity of foreign subsidiary networks, and a shift of activity from Latin...