International Capital Markets : Developments and Prospects, 1983

John Lipsky, Peter Keller, Donald Mathieson, and Richard Williams

• Publisher: INTERNATIONAL MONETARY FUND
• Year: 1983
• eBook ISBN: 9781557750723

NONE

Contents

Prefatory Note

I. Overview of Developments

Lending Environment

International Banking

Bond Markets

II. Risk Perceptions in International Lending

Issues Concerning the Markets

Interbank Markets

Bank Debt Restructuring

Supervisory Issues

Overview

Provisioning and Capital Adequacy

Funding Risk

Dissemination of Information

International Cooperation

Country Risk Assessment

III. International Bank Lending in 1982

Macroeconomic Environment

Recent Developments

Lending and Deposit Taking

Medium-Term Credit Commitments

Terms

Distributional Aspects

Non-Oil Developing Countries

Overall Developments

Western Hemisphere Countries

Centrally Planned Economies

Oil Exporting Developing Countries

Industrial Countries

IV. International Bond Markets

Introduction

The 1982 Experience

Interest Rates

Foreign Bonds Versus Eurobonds

Currency Composition

Type of Bond

Bond Maturities

Bond Market Developments in 1970s and the 1981–82 Bond Market Recovery

Developments in 1970s

The 1981–82 Recovery

V. Short-Term Prospects

International Bank Lending

International Bond Markets

Concluding Observations

ANNEXES

I. Principles for the Supervision of Banks’ Foreign Establishments

I. Introduction

II. Types of Banks’ Foreign Establishments

III. General Principles Governing the Supervision of Banks’ Foreign Establishments

IV. Aspects of the Supervision of Banks’ Foreign Establishments

1. Solvency

2. Liquidity

3. Foreign exchange operations and positions

II. Supervision of Credit Institutions on a Consolidated Basis

APPENDICES

I. Growth in Banks’ International Assets

Alternative Measures of Bank Claims

BIS Quarterly Press Release on International Banking Developments

BIS Semiannual Press Release on Maturity Distribution of International Lending

Further Initiatives of Fund and BIS

Econometric Analysis of the Growth in Claims

II. Statistical Tables

TABLES

Section

I.

1. External Lending and Deposit Taking of Banks in the BIS Reporting Area, 1978–82

2. Growth in International Lending and Selected Economic Indicators, 1973–82

3. International Capital Market Financing, 1976–82

4. Medium–Term International Bank Credit Commitments, 1978–First Quarter 1983

5. Short–Term Claims in Percent of Outstanding Bank Claims, 1978–82

6. Capital–Asset Ratios of Banks in Major Capital Market Countries, 1977–82

II.

7. Developing Countries Ranked by Debt to Banks, December 1982

III.

8. Non-Oil Developing Countries: Current Account Positions and Private Market Financing, 1973–82

9. Non-Oil Developing Countries: Selected External Debt Indicators, 1978–82

10. Bank Lending to Non-Oil Developing Countries, 1976–82

11. Non-Oil Developing Countries of Western Hemisphere: Selected Balance of Payments and External Debt Indicators, 1977–82

12. Net Financing Flows to Centrally Planned Economies From Banks in BIS Reporting Area, 1976–82

13. Current Account Surpluses and Bank Deposits of Oil Exporting Countries, 1974–82

14. Summary of Transactions of Banks in BIS Reporting Area with Industrial and Nonindustrial Countries, 1979–82

15. Gross Foreign Claims, Liabilities, and Net Position of Banks in BIS Reporting Area, 1979–82

16. Summary of Net Foreign Transactions by Banks and Nonbanks in BIS Reporting Area, 1982

IV.

17. International Bond Issues and Placements, 1977-Second Quarter 1983

18. Foreign Bond Issues and Placements by Market Country, 1977-Second Quarter 1983

19. Total Eurobond Issues and Placements by Currency of Denomination by All Countries, 1977-Second Quarter 1983

20. International Bonds, by Type, Selected Eurobonds, 1979–82

21. Maturity Profile of International Bonds in 1981–82

22. Measures of Real Size of Bond Market, 1975–82

23. Real Return on Bond Holdings, 1975–81

APPENDICES I.

24. Gross Foreign Claims of Banks Inside and Outside BIS Reporting Area, 1977–82

II.

25. Current Account Positions and Private Market Financing by Principal Groups of Countries, 1973–82

26. External Claims of Banks in BIS Reporting Area by Country of Borrower, 1978–82

27. External Liabilities of Banks in BIS Reporting Area by Country of Depositor, 1978–82

28. Net External Position of Banks in BIS Reporting Area by Country of Borrower or Depositor, 1978–82

29. Gross Foreign Claims, Liabilities, and Net Position of Banks in European Reporting Countries, 1982

30. Gross Foreign Claims of Banks in BIS Reporting Area by Country or Region of Lending Bank, 1978–82

31. Net Foreign Position of Banks in BIS Reporting Area, 1978–82

32. Foreign Claims of Reporting Banks on Nonbanks in BIS Reporting Area, 1979–82

33. Foreign Liabilities of Reporting Banks to Nonbanks in BIS Reporting Area, 1979–82

34. Share of Claims on Developing Countries and Centrally Planned Economies in Banks’ Net International Claims, 1973–82

35. External Assets of Banks by Maturity and Undisbursed Credit Commitments...

Table of contents

• Cover Page
• Title Page
• Copyright Page
• Contents
• Prefatory Note
• I. Overview of Developments
• II. Risk Perceptions in International Lending
• III. International Bank Lending in 1982
• IV. International Bond Markets
• V. Short-Term Prospects
• Annexes
• II. Statistical Tables
• Tables
• Appendices
• Charts
• Footnotes