Booking positions in small offshore financial centres: focus on US global banks
by Carmela D'Avino; Mimoza Shabani
International Journal of Banking, Accounting and Finance (IJBAAF), Vol. 14, No. 1, 2024

Abstract: Small offshore centres are home to the leading booking centres of global banks and facilitate their transactions across offices worldwide. This paper investigates the factors driving booking positions in offices located in small offshore centres, with a focus on US global banks. We find that global banks tend to increase their booking positions when liquidity conditions at the global and parent levels deteriorate and when banks' risk-taking increases through leverage. Our results suggest that lower tax levels and higher secrecy explain booking centres' localisation in small offshore countries.

Online publication date: Fri, 01-Mar-2024

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