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Bank Funding in Central, Eastern and South Eastern Europe Post Lehman

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Author Info

  • Gregorio Impavido
  • Heinz Rudolph
  • Luigi Ruggerone

Abstract

CESEE banks are reducing foreign funding sources in response to reduced external imbalances, reduced ability to tap international savings, banking group own strategies, initiatives by some regulators, and consistently with uncertainties surrounding the future of the banking union project. In the medium term, the global regulatory agenda and the high foreign presence and stock of FX loans exert opposite forces on rebalancing trends. In the long-term, any funding “new normal” will be determined by the future design of the EU financial architecture. In the meantime, limiting leverage, the use of FX loans and promoting aggregate saving through macro policies and capital market reforms will increase resilience against shocks going forward.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 13/148.

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Length: 47
Date of creation: 19 Jun 2013
Date of revision:
Handle: RePEc:imf:imfwpa:13/148

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Keywords: Banks; Central and Eastern Europe; International banking; External financing; Global Regulatory Agenda; Bank Funding; Deleveraging.; subsidiaries; capital inflows; capital market; capital markets; domestic capital; capital formation; capital market development; government bonds; capital adequacy; cost of capital; capital mobility; equity investments; domestic capital markets; stock exchange; corporate bond market; current account deficits; capital requirement; moral hazard; credit expansion; bond issuance; credit rating; stock exchanges; underwriting standards; credit rating agencies; capital ratio; index bonds; capital standards; capital controls; international capital; capital market reforms; management of capital flows; domestic credit; strong capital inflows; hedging; capital market securities; capital risk; risk capital; equity participation; underdeveloped capital markets; debt securities; speculative attacks; securitization; government securities; capital loss; capital adequacy ratios; local capital markets;

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References

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  1. Musalem, Alberto R. & Impavido, Gregorio & Tressel, Thierry, 2001. "Contractual savings, capital markets, and firms'financing choices," Policy Research Working Paper Series 2612, The World Bank.
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Cited by:
  1. Feyen, Erik & Letelier, Raquel & Love, Inessa & Maimbo, Samuel Munzele & Rocha, Roberto, 2014. "The impact of funding models and foreign bank ownership on bank credit growth : is Central and Eastern Europe different ?," Policy Research Working Paper Series 6783, The World Bank.

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