In the 1970s, large banks here and abroad sharply increased their exposures to the emerging economies of Latin America and other regions, as they recycled the deposits of oil-rich nations. Although profit opportunities for the banks looked attractive for a while, the picture had clearly changed by the 1980s, and most lenders incurred sizable losses on their foreign loans as they reduced their exposures.
1845–1895; and Ongena, S., Popov, A. and Udell, G. (2013), “‘When the cat’s away the mice will play’: Does regulation at home affect bank risk taking abroad?”, Journal of Financial Economics, No 108, pp. 727–750. 3 See Cœuré, B.