Central, Eastern and Southeastern Europe; Regional Economic Issues, April 2013 - Table of contents

Europe, April 26, 2013

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New series produced by the IMF’s European Department focusing on analytical, one-off pieces on issues of interest to the CESEE region.
This issue topic: "Financing Future Growth: The Evolving Role of Banking Systems in CESEE."
Paper prepared for a joint IMF/Czech National Bank Conference held on April 26th in Prague.

Role of foreign banks (mainly from Western Europe) in CESEE banking systems, in terms of ownership and funding.
Assessment of how banking in CESEE may change as a result of the global economic and financial crisis.
Examination of funding models and structural forces shaping banks’ operations and cross-border flows.

EXECUTIVE SUMMARY
I. CONTEXT
II. THE BOOM-BUST OF FOREIGN BANK FLOWS INTO CESEE
- The Boom Years: 2003–08
- The Reversal of Bank Flows: 2008–12
- Were Funding Developments Demand or Supply Driven?
- Did Foreign Banks Behave Differently?
III. STRUCTURAL FACTORS SHAPING BANKS’ NEW FUNDING MODELS
- Lessons Learned from the Boom-Bust Cycle in CESEE
- New Global Market and Regulatory Forces on Parent Banks
- Banking Union
- Attractiveness of the CESEE Banking Markets
IV. POLICY IMPLICATIONS

CESEE: Foreign Ownership and Foreign Funding of the Banking System
CESEE: Credit Growth and Funding from BIS-Reporting Countries' Banks to Banks in CESEE, 2003-08
CESEE: Asset Share of Foreign Banks in 2008 and Increase in Funding of BIS-Reporting Countries' Banks to CESEE Banks during 2008–08
4. CESEE: Funding from BIS-Reporting Countries' Banks to Banks and Nonbanks in CESEE during Boom Years
5. CESEE: The Building Up of Imbalances
6. CESEE: The Boom in Foreign Currency Loans, 2003–08
7. CESEE: Change in External Positions of BIS-Reporting Countries' Banks, 2008:Q4– 2012:Q3
8. CESEE: Debt-Funding from BIS-Reporting Countries' Banks and GDP Growth
9. CESEE: External Position of BIS-Reporting Countries' Banks vis-à-vis CESEE, 2003:Q1– 2012:Q3
10. CESEE: Change in External Positions of BIS-Reporting Countries' Banks vis-à-vis CESEE, 2003:Q1– 2012:Q3
11. CESEE: Growth of Credit to Households and Enterprises
12. Selected CESEE Countries: Nonfinancial Private Sector Saving-Investment
13. CESEE: Funding by Western Banks and Their Funding Costs, 2010:Q1–2012:Q3
14. CESEE: Real GDP Growth
15. Decomposition of Credit Growth Slowdown in 2008–11
16. Credit Growth by Subsidiaries of Raiffeisen, 2005–07
17. CESEE: Average Annual Credit Growth by Banks, 2001–11
18. Why Foreign Banks Credit Growth Slowed Down More than that of Domestic Banks during 2008–11
19. Profitability of Western Banks' Operations in CESEE and at a Group Level, 2003–11

How did foreign bank funding flows evolve through the boom (2003–08) and reversal (2008–12) phases?
To what extent were funding developments demand driven versus supply driven?
Did foreign banks behave differently than domestic banks during the crisis?
What structural and regulatory forces (including the Banking Union and the global regulatory agenda) will shape future funding models for CESEE banking systems?
What policy responses are implied by lessons learned from the boom-bust cycle to support financing for future growth in CESEE?

Central, Eastern and Southeastern Europe; Regional Economic Issues, April 2013 - Table of contents

Central, Eastern and Southeastern Europe; Regional Economic Issues; April 13, 2013
- Central, Eastern and Southeastern Europe; Regional Economic Issues; April 13, 2013 (Markdown version)
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Tn0413pdf
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