We review the data, econometric techniques, and estimates with respect to two recent and salient developments in the banking industry, i.e., securitization and globalization. The traditional banking market has become wider in its business models, through securitization, and in its geographical dispersion, through global operations. Both developments have brought new challenges for our understanding of basic questions in banking. Questions such as what determines credit flows or what are the channels of transmission for monetary policy have been addressed through this new optic. Our review establishes that access to micro data has enabled researchers to arrive at ever-better identified and more reliable estimates. These are interesting times in empirical banking research.