Deleveraging and Foreign Currency Loan Conversion Programs in Europe

被引：1

作者：

Vidahazy, Viktoria ^{[1
]}

Yesin, Pinar ^{[1
]}

机构：

[1] Swiss Natl Bank, Boersenstr 15, CH-8022 Zurich, Switzerland

来源：

COMPARATIVE ECONOMIC STUDIES | 2020年 / 62卷 / 02期

关键词：

Deleveraging; Foreign currency lending; Financial dollarization; Loan conversion programs; Systemic risk;

D O I：

10.1057/s41294-020-00116-1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper first reviews the developments in the size and composition of the European banking sectors' balance sheets since the Global Financial Crisis and then assesses the impact of foreign currency loan conversion programs on systemic risk. Aggregate data from 2009Q1 to 2019Q3 indicate three major developments. First, the deleveraging process in Europe has been sizeable, while credit growth may be hampered in several countries. Secondly, macroprudential measures and conversion programs have only partially achieved their goal of lowering financial dollarization in Central and Eastern Europe. Lastly, systemic risk remains elevated in the non-euro area.

引用

页码：215 / 241

页数：27

共 50 条

[21] Global Deleveraging and Foreign Banks' Lending to Latin American Countries
Kamil, Herman
Rai, Kulwant
[J]. ECONOMIA-JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, 2013, 13 (02): : 1 - +
[22] Foreign currency bubbles
Jarrow, Robert A.
Protter, Philip
[J]. REVIEW OF DERIVATIVES RESEARCH, 2011, 14 (01) : 67 - 83
[23] FOREIGN CURRENCY EXCHANGE
THERIAULT, M
[J]. LIBRARY RESOURCES & TECHNICAL SERVICES, 1975, 19 (04): : 419 - 420
[24] FOREIGN CURRENCY FOR PATIENTS
WILLIAMS, H
[J]. BRITISH MEDICAL JOURNAL, 1955, 1 (JAN8): : 107 - 107
[25] Foreign currency pricing
Levina, Irina
Zamulin, Oleg
[J]. JOURNAL OF MONEY CREDIT AND BANKING, 2006, 38 (03) : 679 - 696
[26] LOSS ON CURRENCY USED TO PAY LOAN WAS ORDINARY
不详
[J]. JOURNAL OF TAXATION, 1985, 62 (04): : 240 - 240
[27] Foreign currency bubbles
Robert A. Jarrow
Philip Protter
[J]. Review of Derivatives Research, 2011, 14 : 67 - 83
[28] DAMAGES IN FOREIGN CURRENCY
不详
[J]. YALE LAW JOURNAL, 1921, 31 (02): : 198 - 201
[29] Harnessing the global foreign currency market: proposal for a foreign currency exchange (FXE)
Mendez, Ruben P.
[J]. REVIEW OF INTERNATIONAL POLITICAL ECONOMY, 1996, 3 (03) : 498 - 512
[30] The determinants of foreign currency hedging: Does foreign currency debt induce a bias?
Clark, Ephraim
Judge, Amrit
[J]. EUROPEAN FINANCIAL MANAGEMENT, 2008, 14 (03) : 445 - 469

← 1 2 3 4 5 →