The data set used in this paper is based on regulatory reports submitted to the Banque de France (BdF) and to the Autorité de Contrôle Prudentiel et de Résolution (ACPR) by major French banking groups. All data are consolidated—or represent an estimation of consolidated data—and refer to worldwide activities of French banks accounted in IAS/IFRS international standards. Raw data from the bank’s regulatory reporting forms were collected at a biannual frequency for balance sheet variables, covering the balance sheets of the major French banks over the period 2006:Q4–2013:Q2 and adjusted as described below. International positions of these banks were collected at quarterly frequency for the time period 2006:Q4–2013:Q2. For the period 2006:Q4–2012:Q1, we make use of the database CCX collected by the Statistics Department of the BdF. For 2012:Q2–2013:Q2, we use the database SURFI (in particular “ENGAG-INT”) collected by the ACPR. The reporting forms are available via https://esurfi-banque.banque-france.fr/accueil/. A full description of the variables used is provided in Table A1.
Data Adjustment Procedures
The raw data were adjusted to account for the following: (i) breaks in time series associated with changes in reporting standards, (ii) a merger between two French banks, and (iii) an estimation of domestic assets.
Changes in Reporting Standards
French banks have reported their first IAS/IFRS consolidated balance sheet through the 4990i regulatory reporting (BAFI framework). Since the implementation of the European common reporting standard in France (2007), banks report data through the FINREP reporting which is more detailed. This results in an important amendment to the reporting forms, some of which lead to breaks in individual series. This was adjusted for by using information from previous reporting forms and merging the codes of the old and new series, where relevant.
Treatment of Mergers and Acquisitions
Over the period analyzed, there was a large merger between two major French actors. This merger was dealt with by creating a new merged series of the merging banks’ data over the entire period.
Domestic Assets and Loans
An estimation of the domestic assets and loans by banking group is given through the total asset aggregation on a solo basis of the French entities of the banking group. This data series is an estimation; not only due to different accounting standards (French instead of IAS/IFRS), but also due to intragroup transactions not being canceled.
Net Due To
This variable is collected at the quarterly frequency and is defined as liabilities of the parent bank of the banking group vis-à-vis its affiliates abroad minus the corresponding assets of the parent bank.