1、 Bankers without Borders GLOBAL FINANCIAL DEVELOPMENT REPORT 2017/2018 Bankers without Borders 2018 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 21 20 19
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13、48-7 Cover image: Shutterstock. Used with permission. Further permission required for reuse. Cover design: Critical Stages, LLC. The report reflects information available up to June 30, 2017. Contents G L O B A L F I N A N C I A L D E V E L O P M E N T R E P O R T 2 0 1 7 / 2 0 1 8 v Contents Forewo
14、rd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xi Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xiii Abbreviations and Glossary . . . . . .
15、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 Conceptual Framework, Stylized Facts, and the Role of Policy . . . . . . . .
16、 . . . . . . . . . . . 21 2 Brick-and-Mortar Operations of International Banks . . . . . . . . . . . . . . . . . . . . . . . . . . 41 3 Cross-Border Lending by International Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 Statistical Appendixes . . . . . . . . . . . . . . .
17、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 A Basic Data on Financial System Characteristics, 201315 . . . . . . . . . . . . . . . . . . . . . 121 B Key Aspects of International Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 Bibl
18、iography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 vi C O N T E N T S GLOBAL FINANCIAL DEVELOPMENT REPORT 2017/2018 BOXES O.1 Main Messages of This Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19、 . . . . . . . . .3 O.2 Views on International Banking by Practitioners: Global Financial Development Barometer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 O.3 Navigating This Report . . . . . . . . . . . . . . . . . . . . . .
20、. . . . . . . . . . . . . . . . . . . . . . . .14 1.1 A Brief Historical Perspective on International Banking . . . . . . . . . . . . . . . . . . . . . .22 1.2 Useful Defi nitions for Understanding International Banking in the Financial System . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 1.3 The Rise of International Microfi nance Institutions . . . . . . . . . . . . . . . . . . . . . . . . .28 1.4 What Constitutes a Foreign Bank Claim? An Overview of the Banking Statistics of the Bank for International Settlements (BIS
22、) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 1.5 What Data Can Be Used to Understand the Activities of International Banks? . . . . .30 2.1 How Do Banks Expand Abroad? Branches or Subsidiaries? . . . . . . . . . . . . . . . . . . .45 2.2 Macroprudential Policies to Manage Credit Gro
23、wth . . . . . . . . . . . . . . . . . . . . . . . .47 2.3 Foreign Banks in Africa: The Case of Ecobank . . . . . . . . . . . . . . . . . . . . . . . . . . . . .48 2.4 Dynamics of Postcrisis International Bank Retrenchment: From Globalization to Regionalization? . . . . . . . . . . . . . . . . . . .
24、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51 2.5 Improving Rural Finance in Albania through Knowledge Exchange . . . . . . . . . . . . .53 2.6 Foreign Exchange Risk: The Case of Latvia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55 2.7 The Lending Cyclicality of F
25、oreign Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57 2.8 The Transmission of International Monetary Policy via Foreign Banks in Mexico . .59 2.9 Lending Technologies of Foreign Banks and Their Approach to SME Lending . . . . .63 2.10 The Global Expansion of Chinese Banks
26、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65 2.11 Decentralized Global Banks and Multiple-Point-of-Entry Resolution . . . . . . . . . . . .72 2.12 The European Banking Union . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .74 2.13 Intermediate
27、 Cooperation Approaches: The ASEAN and AustraliaNew Zealand Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75 2.14 Intermediate Cooperation Approaches: The WAEMU Case . . . . . . . . . . . . . . . . . . .76 3.1 The Big Sur
28、: Beyond Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .93 3.2 Bank-Intermediated Trade Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .94 3.3 Foreign Banks and the International Transmission of Monetary Policy. . . . . .
29、 . . . . .98 3.4 Substitution Effects during Crises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103 3.5 De-Risking in Correspondent Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .105 3.6 Fintech in China: An Overview . . . . . . . . . . . .
30、. . . . . . . . . . . . . . . . . . . . . . . . . . . .109 FIGURES BO.2.1 The Impact of Global and Regional Banking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 O.1 Cross-Border and Local Claims by Foreign Banks, 200515 . . . . . . . . . . . . . . . . . . .7 O.2 Number of Entries a
31、nd Exits of Foreign Banks, 19952013 . . . . . . . . . . . . . . . . . . . .8 O.3 Share of Foreign Bank Assets, by Region, 200513 . . . . . . . . . . . . . . . . . . . . . . . . . .8 GLOBAL FINANCIAL DEVELOPMENT REPORT 2017/2018 C O N T E N T S vii O.4 Direction of Cross-Border Bank Lending, before a
32、nd after the Global Financial Crisis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 O.5 Share of Regional Foreign Banks among Foreign Banks, Country-Level Averages, 19972013 . . . . . . . . . . . . . . . . . . . . . . . . .
33、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 O.6 Trends in Bank Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 O.7 Share of Developing Countries with Restrictions on Foreign Bank Entry through Alternative Modes . . . . . .
34、 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 O.8 Share of Home and Host Countries That Tightened Macroprudential Policies, 200513 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 O.9 Ch
35、ange in Bank Lending Associated with a 1 Percent Increase in Growth in GDP per Capita . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 O.10 Contribution of Local Deposits to Banks Total Funding . . . . . . . . . . . . . . . . . . . . .16 O.11
36、Volume of Debt Issuance over Time for Real Purposes . . . . . . . . . . . . . . . . . . . . . . .17 O.12 Average Change in Long-Term Debt Financing, by Ownership Type . . . . . . . . . . . .17 B1.2.1 How the International Banking System Works . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
37、23 1.1 Foreign Financial Infl ows to Developing Countries: Syndicated Loans, Bonds, and Foreign Direct Investment, 200015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 1.2 Foreign Claims Reported to BIS by Counterparty Income Level, 200015 . . . . . . . .27 B1.4.1 A Taxon
38、omy of Foreign Claims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 1.3 Lending by International Banks: Foreign Claims on Counterparty Nonbank Private Sector (Country-Level Average by Region) and on Counterparty Sectors (Country-Level Average by Income Level), 200
39、514 . . . . . . . . . . . . . . . . . . . . . . . .31 1.4 Cross-Border Bank Flows: Cross-Border Claims on Counterparty Regions and Foreign Claims on Counterparty Economies by Position Type and Income Level, 200515 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
40、. . . . . . . . . . . . . . .32 1.5 Foreign Bank Presence through Subsidiaries: Share of Foreign Banks of Total Banks (Country-Level Average by Region, 19972013) and Share of Foreign Bank Assets of Total Bank Assets (Country-Level Average by Region, 200513) . . .33 1.6 Rise of SouthSouth Banking: Fo
41、reign Claims by Banks in BIS-Reporting Countries (200315) and Nationality of Majority Ownership of Banks in Developing Countries (19952013) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34 1.7 Total Assets of Largest Banks (Absolute Amounts, on a Rolling Basis) and Size of
42、 Assets in Relation to National Economies (Combined Assets of Top Five Banks, Country-Level Average by Region), 200514 . . . . . . . . . . . . . . . . . . . . . . . .35 1.8 Regulatory Restrictions on Foreign Bank Entry and Ownership (Country-Level Average), 200011 . . . . . . . . . . . . . . . . . .
43、 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35 B2.3.1 Distribution of Ecobanks Branches and Offi ces (2015) and Assets (2011 and 2015) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 B2.4.1 Growth over Time of Foreign Banks
44、by Number of Subsidiaries (200013) and Average Assets (200513) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51 B2.4.2 Acquisitions, Transferals, Greenfi eld Entries, and Closures of Foreign Banks, 200013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
45、. . . . . . . . . . . . . . . . . . . . . . . . . . . .52 B2.7.1 Change in Bank Lending Associated with a 1 Percent Increase in GDP per Capita, 19992010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57 viii C O N T E N T S GLOBAL FINAN
46、CIAL DEVELOPMENT REPORT 2017/2018 2.1 Contribution of Local Deposits, Equity, and Short-Term and Long-Term Funding to Total Bank Funding, 200014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .58 B2.10.1 Chinese Banks in the World: A Snapshot of Chinese Large Commercial Banks, 200515
47、. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65 2.2 Trends over Time of Foreign Bank Subsidiaries in Developing Countries by the Type of Country in Which Each Bank Is Headquartered, 200113 . . . . . . . . . . . . .67 B2.11.1 Liqui
48、dity and Cross-Border Funding of European Bank Subsidiaries in Europe and Central Asia and Latin America and the Caribbean Regions . . . . . . . . . . . . . . .72 3.1 Restrictions to Capital Flows: Average across Economies of the South, 19902013 . . . . . . . . . . . . . . . . . . . . . . . . . . .
49、. . . . . . . . . . . . . . . . . . . . . . . . . . . . .86 3.2 Direction of Cross-Border Bank Lending, Selected Years . . . . . . . . . . . . . . . . . . . . .87 3.3 Average Net Syndicated Loan Outfl ows by Region, 200114 . . . . . . . . . . . . . . . . .89 3.4 Average Share of Intraregional Syndicated Loans of Total Cross-Border Syndicated Loans, by Region, 200114 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89 3.5 Evolution of Cross-Border Bank Claims by Partner Economy, 200114 . . . . . . . . .90 3.6 Evolution of Cross-Border Syndicated Loan
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