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Demographic Change, Bank Strategy and Financial Stability

  • Stefan W. Schmitz


    (Oesterreichische Nationalbank)

The purpose of this article is to disseminate the main results of the program “Ageing and Its Implications for Banks and Bank Strategy” of the Oesterreichische Nationalbank’s (OeNB’s) Financial Markets Analysis and Surveillance Division and to draw conclusions about the implications of aging for financial stability. The first question that arises is whether demographic change is relevant for banks and financial stability at all. The paper answers this question in the affirmative and goes on to analyze the impact of demographic change on the environment in which banks operate, i.e. on economic growth, interest rates, and residential real estate markets, and on the level and composition of household demand for bank services and products. The article summarizes how banks might adapt their strategies in response to demographic change. Finally, it draws conclusions about the potential implications for financial stability.

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Article provided by Oesterreichische Nationalbank (Austrian Central Bank) in its journal Financial Stability Report.

Volume (Year): (2007)
Issue (Month): 13 ()
Pages: 98-114

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Handle: RePEc:onb:oenbfs:y:2007:i:13:b:3
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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  1. Stefan W. Schmitz, 2005. "Demographic Developments, Funded Pension Provision and Financial Stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 9, pages 93-109.
  2. repec:dgr:rugggd:200363 is not listed on IDEAS
  3. Ignazio Visco & Barry Eichengreen & Gilles Mourre & Declan Costello & Giuseppe Carone & Nuria Diez Guardia & Bartosz Przywara & Aino Salomäki & Vincenzo Galasso & Mark Weth & Sebastian Schich & Etienn, 2007. "Money, Finance and Demography: The Consequences of Ageing," SUERF Colloquium Volumes, SUERF - The European Money and Finance Forum, number 1 edited by Morten Balling & Ernest Gnan & Frank Lierman.
  4. Ramon Gomez-Salvador & Alberto Musso & Marc Stocker & Jarkko Turunen, 2006. "Labour productivity developments in the euro area," Occasional Paper Series 53, European Central Bank.
  5. Clark, Gordon L., 2004. "Pension fund governance: expertise and organizational form," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(02), pages 233-253, July.
  6. Stefan W. Schmitz, 2005. "The Governance of Occupational Pension Funds and the Politico- Economic Implications: The Case of Austria," Finance 0508003, EconWPA.
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