  The weighted and directed network of countries based on the number of
overseas banks is analyzed in terms of its fragility to the banking crisis of
one country. We use two different models to describe transmission of shocks,
one local and the other global. Depending on the original source of the crisis,
the overall size of crisis impacts is found to differ country by country. For
the two-step local spreading model, it is revealed that the scale of the first
impact is determined by the out-strength, the total number of overseas branches
of the country at the origin of the crisis, while the second impact becomes
more serious if the in-strength at the origin is increased. For the global
spreading model, some countries named "triggers" are found to play important
roles in shock transmission, and the importance of the feed-forward-loop
mechanism is pointed out. We also discuss practical policy implications of the
present work.
