How banks responded to the global financial crisis – international experience

Abstract

A legion of analyses have addressed the development, reasons and implications of the global financial crisis. Public interest has been particularly heightened toward central banks' policies aimed at alleviating the unfavourable effects of the crisis and also toward various forms and tools of government involvement. Drawing from international experience, this essay analyses the responses given by banks, especially commercial banks, to the crisis. The essay has a future-oriented approach, trying to reach conclusions for the future from historic trends and the challenges presented by the current environment wherever possible.