Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Europe > Latvia, Republic of

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Banks and banking, Foreign x
Clear All Modify Search
Cover IMF Working Papers
Foreign Banks and the Vienna Initiative: Turning Sinners Into Saints?
Mr. Ralph De Haas
,
Ms. Yevgeniya Korniyenko
,
Mr. Alexander Pivovarsky
, and
Ms. Elena Loukoianova
We use data on 1,294 banks in Central and Eastern Europe to analyze how bank ownership and creditor coordination in the form of the Vienna Initiative affected credit growth during the 2008–09 crisis. As part of the Vienna Initiative western European banks signed country-specific commitment letters in which they pledged to maintain exposures and to support their subsidiaries in Central and Eastern Europe. We show that both domestic and foreign banks sharply curtailed credit during the crisis, but that foreign banks that participated in the Vienna Initiative were relatively stable lenders. We find no evidence of negative spillovers from countries where banks signed commitment letters to countries where they did not.
Keywords:
WP; parent bank; bank subsidiary; government support; credit growth; bank lending; Foreign Banks; Vienna Initiative; Financial Crisis; State Support; VI bank; roll-over commitment; loan-to-deposit ratio; Credit; Bank credit; Loans; Central and Eastern Europe; Europe
Cover Rapid Credit Growth in Central and Eastern Europe
Rapid Credit Growth in Central and Eastern Europe
Endless Boom or Early Warning?
Mr. Charles Enoch
and
Ms. Inci Ötker

Abstract

This volume represents the latest developments and policy debate on a very current issue: the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many central and eastern European (CEE) countries. The papers, presented by the representatives of international organizations and monetary and supervisory authorities of a number of western and CEE countries, provide discussions on how to assess and respond to excessive credit growth. Case studies represent the challenges faced by policymakers in dealing with rapid credit growth, providing useful lessons for other countries experiencing a similar phenomenon. For more information on how to purchase a copy of this title, please visit http://www.palgrave.com/economics/imf/index.asp.

Keywords:
SEM; credit growth; country; IMF article IV consultation; bank; credit transaction; a number of country; excessive credit growth; aggregate credit growth; Credit; Foreign banks; Financial sector stability; Commercial banks; Financial soundness indicators; Central and Eastern Europe; Currencies
Cover Capital Markets and Financial Intermediation in The Baltics
Capital Markets and Financial Intermediation in The Baltics
Niamh Sheridan
,
Mr. Alfred Schipke
,
Ms. Susan M George
, and
Mr. Christian H. Beddies

Abstract

In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the financial systems of the three countries and discusses some of their unique characteristics. The study also examines current distortions of the systems and discusses whether or not the Baltics should move from an almost exclusively bank-based system to one that relies more on capital markets. In the process, it addresses issues of corporate governance and regional integration.

Keywords:
OP; bank; bond market; parent bank; market; EU accession countries; EU banking systems; EU integration; authorities' strategy; Securities markets; Stock markets; Capital markets; Commercial banks; Foreign banks; Baltics
Cover IMF Working Papers
Determinants of Commercial Bank Performance in Transition: An Application of Data Envelopment Analysis
Mr. David A. Grigorian
and
Mr. Vlad Manole
Banking sectors in transition economies have experienced major transformations throughout the 1990s. While some countries have been successful in eliminating underlying distortions and restructuring their financial sectors, in some cases financial sectors remain underdeveloped and the rates of financial intermediation continue to be low. We estimate indicators of commercial bank efficiency by applying a version of Data Envelopment Analysis (DEA) to bank-level data from a wide range of transition countries. In addition to stressing the importance of some bank-specific variables, the censored Tobit analysis suggests that (1) foreign ownership with controlling power and enterprise restructuring enhances commercial bank efficiency; (2) the effects of prudential tightening on the efficiency of banks vary across different prudential norms; and (3) consolidation is likely to improve the efficiency of banking operations. Overall, the results confirm the usefulness of DEA for transition-related applications and shed some light on the question of the optimal architecture of a banking system.
Keywords:
WP; rule of law affect bank-efficiency indicator; bank efficiency; banking sector; EBRD enterprise restructuring index; Banking sector development; economies in transition; intermediation function; productivity indicator; bank performance; branch network; Commercial banks; Foreign banks; Nonbank financial institutions; Financial sector development; Loans; Europe; Baltics
Cover IMF Working Papers
Financial Sector Reform and Banking Crises in the Baltic Countries
International Monetary Fund
Financial sector reform in the Baltic countries is reviewed in light of the banking crises that emerged during the reform period. It is argued that the crises had their roots in the structural deficiencies specific to planned economies and the financial environment that developed before and after these countries regained their independence, thus rendering them largely inevitable. Because of the low level of financial intermediation, however, even the failure of large banks had limited systemic effects and a minor negative impact on output and incomes. The crises slowed down the financial reform process, but brought about a desired consolidation of the banking sector.
Keywords:
WP; central bank; liquidity problem; savings bank; treasury bill; interbank market; banking crisis; state enterprise; market economy; money multiplier; foreign exchange; capital base; Commercial banks; Credit; Banking crises; Loans; Foreign banks; Baltics