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Europe > Iceland

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Global Financial Crisis, 2008-2009 x
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Cover Departmental Papers
Managing Systemic Banking Crises: New Lessons and Lessons Relearned
Ms. Marina Moretti
,
Mr. Marc C Dobler
, and
Mr. Alvaro Piris Chavarri
This paper updates the IMF’s work on general principles, strategies, and techniques from an operational perspective in preparing for and managing systemic banking crises in light of the experiences and challenges faced during and since the global financial crisis. It summarizes IMF advice concerning these areas from staff of the IMF Monetary and Capital Markets Department (MCM), drawing on Executive Board Papers, IMF staff publications, and country documents (including program documents and technical assistance reports). Unless stated otherwise, the guidance is generally applicable across the IMF membership.
Keywords:
DPPP; DP; balance sheet; financial crisis; bridge bank; insurance fund; economic activity; public funds; bank; authority; process; bank liquidity; beneficial owner; due diligence; banking system; equity capital; targeted bank diagnostic; financial activity; cash flow; home resolution authority; bank risk; cash limit; Bank resolution framework; Global financial crisis of 2008-2009; Deposit insurance; Crisis management; Global; Europe
Cover IMF Working Papers
Credit Growth and Economic Recovery in Europe After the Global Financial Crisis
Sergei Antoshin
,
Mr. Marco Arena
,
Nikolay Gueorguiev
,
Mr. Tonny Lybek
,
Mr. John Ralyea
, and
Mr. Etienne B Yehoue
This paper reviews the empirical relationships between credit growth, economic recovery, and bank profitability in Europe after the global financial crisis (GFC). We find that the post-GFC recoveries in Europe have been weaker than previous recoveries, with the “double-dip” recessions in 2011–12 in many countries and the worldwide reach of the GFC explaining the underperformance. Bank lending has been subdued as well, but this appears to have only held back the recovery relatively moderately. A 10 percent increase in bank credit to the private sector is associated with a rise of 0.6–1 percent in real GDP and 2–2½ percent in real private investment. These relationships have not changed significantly during and after the GFC. Loan quality, customer deposits, bank equity price index, and bank capital appear to be closely linked to bank lending. As expected, bank profitability is positively and significantly influenced by credit growth, but this relationship has weakened after the GFC.
Keywords:
WP; credit growth; economic activity; private sector; price index; economic recovery; creditless recoveries; bank profitability; global financial crisis; Europe; dummy recession; recovery dummy; CESEE recession-recovery pattern; GFC-induced recession; recovery period; GFC recovery; credit dynamics; creditless recovery; GFC recession; credit extension; Credit; Bank credit; Global financial crisis of 2008-2009; Credit booms; Global