Browsing by Subject "Pohjoismaat"

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  • Honkapohja, Seppo (2009)
    EURO & TALOUS 1
    Meneillään oleva rahoituskriisi on nyt kestänyt runsaan vuoden. Sodanjälkeisenä aikana nykyinen kriisi on kehittyneiden talouksien 19:s ja tämän vuosisadan ensimmäinen. Tuoreessa tutkimuksessaan Carmen Reinhard ja Kenneth Rogoff (2008) ovat jaotelleet tämänhetkistä Yhdysvaltain subprime-kriisiä edeltäneet 18 kriisiä viiteen suureen ja pienempiin kriiseihin. Viiteen suureen sisältyvät Norjan, Suomen ja Ruotsin 1990-luvun alkuun ajoittuneet kriisit. Norjan kriisi alkoi jo 1980-luvun lopulla, mutta jatkui 1990-luvulle.
  • Ilvessalo, Yrjö (1931)
    Bank of Finland. Monthly Bulletin 11 ; 8 ; August
  • Toivanen, Mervi (2008)
    Suomen Pankki. Rahoitusmarkkinaraportti 4
    Tammi-syyskuussa 2008 pohjoismaisten suurten finanssikonsernien liikevoitot laskivat edellisen vuoden vastaavasta ajanjaksosta arvonalentumistappioiden kasvua sekä kaupankäynnin ja sijoitustoiminnan tuottojen laskun takia. Pohjoismaisten finanssikonsernien markkina-arvot ovat pienentyneet keskimäärin saman verran kuin suurten eurooppalaisten pankkien markkina-arvot.
  • Toivanen, Mervi (2009)
    Suomen Pankki. Rahoitusmarkkinaraportti 2
    Suurten pohjoismaisten finanssikonsernien yhteenlasketut liikevoitot olivat tammi-maaliskuussa 2009 noin 26 % pienemmät kuin vuoden 2008 ensimmäisellä neljänneksellä. Erityisesti arvonalentumistappioiden nopea kasvu supisti liikevoittoja.
  • Schauman, Heidi (2012)
    Suomen Pankki. BoF online 5/2012
    Tässä selvityksessä tarkastellaan, miten asuntomarkkinat ja kotitalouksien velkaantuneisuus ovat kehittyneet Pohjoismaissa viime vuosina ja vuosikymmeninä. Selvityksen tavoite on luoda käsitys siitä, miten Pohjoismaat eroavat toisistaan ja siitä, onko Suomella jotain opittavaa muista Pohjoismaista. Selvitys käsittelee asuntohintojen, asuntoinvestointien, rakentamisen sekä kotitalouksien velkaantumisen kehitystä. Yhteenvetona voidaan todeta, että Pohjoismaissa asuntohinnat ovat kehittyneet hyvin samansuuntaisesti viime vuosikymmenen aikana. Kehitys heijastaa pääsääntöisesti matalia korkoja ja myönteistä tulokehitystä eikä niinkään rakentamisen niukkuutta, vaikka joissakin maissa ainakin kasvukeskuksissa on ongelmia kaavoittamisen kanssa. Myös lainamarkkinoiden muuttuminen ja yhä vapaamuotoisempien lainojen tulo markkinoille on antanut tukea asuntohintojen nousulle.
  • Jokivuolle, Esa; Vihriälä, Vesa; Virolainen, Kimmo; Westman, Hanna (2020)
    Nordic Economic Policy Review
    The global financial crisis has led to extensive regulatory reforms around the globe. The bail-in rules introduced in the Bank Recovery and Resolution Directive are an essential part of the new bank crisis management landscape in Europe. The paper seeks to clarify their implications and applicability in three ways. First, we provide a concise overview of the issues involved based on recent – mainly theoretical – literature. Second, we describe the key features of the European resolution framework. Third, we discuss the implications of the bail-in approach for crisis management in the Nordic context.
  • Bank of Finland (2020)
    Bank of Finland. Bulletin 2/2020
    Editorial: Regulation has strengthened the financial system’s resilience 3 Financial stability assessment: Pandemic demonstrates necessity of risk buffers 6 Coronavirus shock will further weaken bank profitability in the euro area 19 Banks must be able to finance firms and withstand loan losses amid the coronavirus pandemic 24 Nordic countries are vulnerable to housing market risks aggravated by the coronavirus pandemic 35
  • Pesola, Jarmo (2005)
    Bank of Finland Research Discussion Papers 13/2005
    The macroeconomic determinants of banking sector distresses in the Nordic countries, Belgium, Germany, Greece, Spain and the UK are analysed using an econometric model estimated on panel data from partly the early 1980s to 2002.The dependent variable is the ratio of banks' loan losses to lending.In addition to the lagged dependent variable, the explanatory variables include a surprise change in incomes and real interest rates, both variables as a separate cross-product term with lagged aggregate indebtedness.The underlying macroeconomic account that this paper puts forward is that loan losses are basically generated by strong adverse aggregate shocks under high exposure of banks to such shocks.The underlying innovations to income and real interest rates are constructed using published macro-economic forecast for these variables.According to the results, high customer indebtedness combined with adverse macroeconomic surprise shocks to income and real interest rates contributed to the distress in banking sector. Loan losses also display strong autoregressive behaviour which might indicate a feedback effect from loan losses back to macroeconomic level in deep recessions.The results can be used in macro stresstesting the banking sector. Key words: financial fragility, shock, loan loss, banking crisis JEL Classification numbers: G21, E44
  • Alhonsuo, Sampo (2006)
    Bank of Finland. Financial market report 1
    Banks and financial groups have posted good results in the Nordic and Baltic countries as well as in Europe and the United States. Improved results are mainly due to growth in income. Banks' total assets and business volumes have increased rapidly. Financial results show that banks' operating environment is currently favourable.
  • Pensala, Johanna; Solttila, Heikki (1993)
    Bank of Finland Research Discussion Papers 10/1993
    In this paper we present data collected by the banking supervision authorities on banks' nonperforming assets and loan losses with a view to establishing a consistent database for analysing the condition of Finnish banks and firms.
  • Myller, Marko (2009)
    Bank of Finland. Financial market report 1
    A new entity will be introduced into the value chain of Nordic securities trading the central counterparty (CCP), located between the stock exchange and the central securities depository. A solution is also being sought for a reliable credit derivative infrastructure.
  • (1973)
    Bank of Finland. Monthly Bulletin 47 ; 5 ; May
  • Christiansen, Bent; Gudmundsson, Már; Lehmussaari, Olli-Pekka; Lindenius, Christina; Simonsen, Sigurd; Starck, Christian; Åkerholm, Johnny (1992)
    Bank of Finland Research Discussion Papers 20/1992
    Integrationsprocessen inom Europa får via Maastrichtavtalet långtgående konsekvenser för de nordiska centralbankerna oavsett de strategiska valen. Förändringstrycket uppstår de Jaeta pga att de nordiska ländema inte kan agera i isolation från utvecklingen i den omedelbara omvärlden. EG-Iändernas ekonomisk-politiska beslut kommer att i hög grad ange ramama för den ekonomiska politiken i de nordiska Iänderna oberoende av de institutionella arrangemangen.
  • Myller, Marko (2008)
    Bank of Finland. Financial market report 3
    Multilateral trading facilities (MTFs) have arrived in Europe. As competition heightens, the focus of attention is on the most traded shares on stock exchanges. Will there be a redistribution of trading volumes? The future of one of the new players already looks unsure.
  • Berglund, Tom; Mäkinen, Mikko (Elsevier, 2019)
    Research in International Business and Finance January ; 2019
    Published in Bank of Finland Research Discussion Papers 30/2016.
    Using a large panel data set of Nordic (Finland, Norway and Sweden) and European banks for the period 1994–2010, we study whether banks can retain their lessons from the experience of a severe financial crisis. Our key finding is that the Nordic banks had better returns and greater financial stability compared to other European banks during the 2008 crisis, after controlling for key bank characteristics and macroeconomic factors. Our findings are consistent with the learning hypothesis of Fahlenbrach et al. (2012), suggesting that the Nordic banks were able internalize the lessons from the Nordic systemic banking crisis of the early 1990s.
  • Suomen Pankki (2020)
    Euro & talous 2/2020
    Pääkirjoitus: Sääntely vahvistanut rahoitusjärjestelmää kriisin varalle 3 Vakausarvio: Pandemia osoittaa riskipuskureiden välttämättömyyden 6 Koronasokki heikentää euroalueen pankkien kannattavuutta entisestään 19 Pankkien kyettävä koronapandemiassa luotottamaan yrityksiä ja kestämään luottotappioita 24 Pohjoismaat alttiita koronaviruspandemian voimistamille asuntomarkkinoiden riskeille 35
  • Vauhkonen, Jukka; Westman, Hanna (2013)
    Bank of Finland. Bulletin. Financial stability 2
    The structure of the Finnish banking system is vulnerable, due to the banking system s growing size, high degree of concentration, strong national and Nordic interconnectedness, and the systemic importance of some banking groups. Finnish authorities must be prepared to impose either on all banks or some banks additional capital requirements allowed under the EU s Capital Requirements Directive (CRD).
  • Suomela, Samuli (1958)
    Bank of Finland. Monthly Bulletin 32 ; 4 ; April
  • Vauhkonen, Jukka (2016)
    Bank of Finland. Bulletin 2/2016
    Finland's neighbouring countries have actively adopted macroprudential instruments to counter stability risks relating to lending for house purchase. Sweden and Norway are taking strong measures to restrain housing credit growth and the associated risks. Of the Baltic States, Estonia and Lithuania, in turn, have imposed limits on the maximum loan servicing costs and length of housing loans so as to prevent risks proactively. Finland has adopted new macroprudential instruments more slowly. The loan-to-value cap that will enter into force in Finland in summer 2016 is more lenient than the requirements imposed in neighbouring countries.
  • Savolainen, Eero; Tölö, Eero (2017)
    Bank of Finland. Bulletin 2/2017
    The Finnish, Swedish, Norwegian and Danish banking sectors have broadly similar strengths and weaknesses. Their profitability is strong, capital adequacy solid, and loan losses have been at historically low levels for a long time. On the other hand, the national banking sectors are large and concentrated and their systemic risks relate largely to lending to the residential and commercial real estate markets.