Robert Hills, John Hooley, Yevgeniya Korniyenko and Tomasz Wieladek.
When funding conditions became much more difficult in the recent financial crisis, how did UK banks react? Did they adjust their domestic and external lending to different degrees? Did foreign-owned banks behave differently from UK-owned banks, and did it make a difference whether they were a branch or a subsidiary? Did the other features of their balance sheet make a material difference to their lending behaviour? Our research suggests that the answer to all of these questions is “yes”.