The politicisation of the European Central Bank and its emergency credit lines outside the Euro Area

Figures & data

Table 1. Technical and political considerations around international central bank cooperation.

Technical considerations	Political considerations
Financial stability	Individual banks’ stability
Interest rates	Diplomatic considerations
Exchange rate	International agreements
Credit risk

Table 2. Cross-border risks for the Euro Area for selected Euro Area outsiders.

		Domestic banks’ net cross-border position in euro, USD m		Share of total assets of foreign banks		Financial exposure of largest 3 Euro Area creditors, USD m
		2008	2019	2008	2020	2008	2020
Member State	Sweden	−42,517	−3553	/	/	79 512	126,556
	Denmark	−38,013	−6882	/	/	126 302	107,506
	Hungary	−18,397	−2493	61.20%	43.50%	58 328	13,392
	Latvia^a	−16,286	/	65.90%	66.10%	8 850	/
	Poland	−290	−829	72.50%	46%	53 737	54,539
	Croatia	−588	989	90.60%	91.10%	35 289	10,694
	Bulgaria	−6581	2908	83.90%	77.70%	15 609	5681
	Romania	−28,865	3674	88.50%	73.60%	48 246	17,972

Sources: ECB Statistical Data Warehouse, CBD2.A.?.W0.11._Z._Z.A.A.I0002._Z._Z._Z._Z._Z._Z.PC; BIS locational banking statistics, Tables 6.1 and 6.2 (author’s calculations)

^a Foreign bank ownership in Latvia comes primarily from Swedish Banks.