01984cas a2200277 a 4500 AALejournalIMF006817 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455209477 1018-5941 BD-DhAAL BD-DhAAL Makarova, Yuliya. Bankers Without Borders? : Implications of Ring-Fencing for European Cross-Border Banks / Yuliya Makarova, Anna Ilyina, Christian Schmieder, Eugenio Cerutti. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents a stylized analysis of the effects of ring-fencing (i.e., different restrictions on cross-border transfers of excess profits and/or capital between a parent bank and its subsidiaries located in different jurisdictions) on cross-border banks. Using a sample of 25 large European banking groups with subsidiaries in Central, Eastern and Southern Europe (CESE), we analyze the impact of a CESE credit shock on the capital buffers needed by the sample banking groups under different forms of ring-fencing. Our simulations show that under stricter forms of ring-fencing, sample banking groups have substantially larger needs for capital buffers at the parent and/or subsidiary level than under less strict (or in the absence of any) ring-fencing. Mode of access: Internet Cerutti, Eugenio. Ilyina, Anna. Schmieder, Christian. IMF Working Papers; Working Paper ; No. 2010/247 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/247/001.2010.issue-247-en.xml IMF e-Library