Briefing | Reshaping banking
The retreat from everywhere
Led by European banks, the world’s lenders are pulling back to their home markets
SOME signs are subtle. Foreign lenders operating in America are tightening loan standards more sharply than domestic rivals; Hong Kong property developers are scrambling to issue bonds for want of other funding. But others—the “for sale” signs hung on the overseas assets of many European lenders—are pretty blatant. The ability and willingness of banks to compete across borders is unravelling.
This article appeared in the Briefing section of the print edition under the headline "The retreat from everywhere"
From the April 21st 2012 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Briefing
America’s $61bn aid package buys Ukraine time
It must use it wisely
America is uniquely ill-suited to handle a falling population
Which is a worry, because much of it is already shrinking
Homeowners face a $25trn bill from climate change
Property, the world’s biggest asset class, is also its most vulnerable