#03-11
"Who Owns the Major US Subsidiaries of Foreign Banks? A Note"
Abstract: In 2000 ten foreign banks owned the 12 largest US subsidiaries of foreign banks, which account for over 92% of the assets of all subsidiaries. The parent banks were large and tended to be from English-speaking countries. The novel result is that the parent was often the largest bank in its home country, which suggests that domestic limits to growth are a factor in the foreign direct investment decision.
JEL Classification: G2, F2
Keywords: foreign banks, subsidiaries, FDI, resource-based view
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