Browsing by Author "Toivanen, Mervi"

Sort by: Order: Results:

Now showing items 1-20 of 77
  • Toivanen, Mervi (2008)
    Bank of Finland. Financial market report 3
    Banks advertise their offerings of fixedterm deposits with attractive interest rates. They promise to pay attractive interest on deposits held for long periods. But rising inflation lowers the real yield on fixedterm deposits.
  • Toivanen, Mervi (2006)
    Bank of Finland. Financial market report 4
    The average interest rate on the deposit stock rose in 2006. Statistics do not, however, clearly indicate that banks have started to compete in terms of deposit rates. Deposit rates are developing much as in the last period of rising market interest rates. In 2006, an increase in market interest rates led, in particular, to rises in the interest rates on non-financial corporations' deposits and on households' fixed-term deposits. In contrast, interest rates on households' most common transactions accounts have not risen.
  • 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.
  • Toivanen, Mervi (2017)
    Valvottavien taloudellinen tila ja riskit
    Luototussuhteella tarkoitetaan asuntoluoton määrää suhteessa luoton vakuuksiin. Voimassa olevan lainsäädännön perusteella uuden asuntolainan luototussuhde saa olla enintään 90 prosenttia (ensiasuntojen kohdalla 95 prosenttia) vakuuksien käyvästä arvosta. Uusien asuntoluottojen keskimääräinen luototussuhde oli syys-joulukuussa 2016 lähes 70 prosenttia. Osalla lainoista on kuitenkin korkeat luototussuhteet. Nykyinen vakuusperusteinen lainakattosääntely on kierrettävissä ottamalla lisälainoiksi kulutusluottoja. Lainakatto ei myöskään estä suuria asuntolainoja ja asuntohintojen haitallista nousukierrettä. Tavoite kotitalouksien velkaantumisen hillinnästä ei siis toteudu parhaalla mahdollisella tavalla.
  • Toivanen, Mervi (2013)
    Bank of Finland. Financial market report 2
    A research paper on contagion in the interbank money market shows that in 2010 contagion negatively affected 40% of European banks on average. A bank's central position in the interbank network is particularly important in explaining the level of contagion, while a bank's size is a considerably less significant explanatory factor.
  • Toivanen, Mervi (2004)
    Bank of Finland. Financial market report 1
    Net operating profit of banks (excl. Nordea) improved in 2003. Although banks' net interest income declined in response to lower market rates and narrower interest rate margins, an improvement in other income bolstered the results. The trend in expenses varied across banking groups but, in the aggregate, expenses remained almost un-changed from 2002. Capital adequacy continues to be sound.
  • Toivanen, Mervi (2007)
    Bank of Finland. Financial market report 1
    Finnish banks' business continued to grow in 2006. Lending grew rapidly and banks extended their range of other services and products. Banks also expanded their operations abroad and in other business lines. Growth in business operations was accompanied by improved operating profits. This was due to growth in income, which exceeded that of expenses, as well as one-off capital gains and virtually zero net loan losses.
  • Toivanen, Mervi (2005)
    Bank of Finland. Financial market report 3
    Cost-efficiency improved in nearly all banks operating in Finland. Banks' income-expense ratio decreased as a result of increased income and moderate developments in expenses. Banks' operating profits were also improved by the reversal of impairment losses.
  • Toivanen, Mervi (2006)
    Bank of Finland. Financial market report 03
    Banks' aggregate expenses rose in the first half of 2006. This development is currently disguised by banks' high income, as a result of favourable developments in net fee income and net interest income. Overall, banks' operating profits continued to increase in January June 2006.
  • Koskinen, Kimmo; Toivanen, Mervi (2013)
    Bank of Finland. Financial market report 2
    Banks' financial results have recently been pronouncedly better in the United States than in the euro area. The difference is largely explained by weaker economic activity and strong increases in impairment losses in the euro area. Losses of banks in Southern European countries, in particular, have expanded significantly.
  • Toivanen, Mervi (2004)
    Bank of Finland. Financial market report 4
    Banks' total operating profits increased in January September 2004. Lower interest rates and narrower interest rate margins led to a decline in net interest income, in both absolute terms and as a proportion of total income. The concurrent increase in net fee income is thus the main factor behind the improvement in banks' operating profits. Cost control and low loan losses also contributed to an improvement in results.
  • Toivanen, Mervi (2006)
    Bank of Finland. Financial market report 1
    Banks' performance was strong in 2005. Income increased more than expenses, which improved banks' cost efficiency. The profitability of retail banking is also reflected in the growth in return on equity. At the same time, capital adequacy remained sound on average.
  • Toivanen, Mervi (2005)
    Bank of Finland. Financial market report 2
    Banks' net interest income improved in January March 2005, due to the rapid growth of lending stock and stabilising of market interest rates. Finnish banking groups' total operating profits thus improved by about 2%. The capital adequacy of banks has also remained high on average. IFRS standards for the accounting of quoted companies entered into force at the beginning of 2005.
  • Toivanen, Mervi (2009)
    Bank of Finland. Financial market report 1
    The uncertainty caused by the financial crisis continues to hamper the acquisition of long-term funding and raise the price of funding. This has caused problems particularly for monetary financial institutions (MFIs).
  • Toivanen, Mervi (2013)
    Bank of Finland Research Discussion Papers 19/2013
    This paper analyses the importance of individual bank-specific factors on financial stability. First, we use a novel method to model the spreading of the contagion in the interbank network by implementing an epidemiologic model. Actual data on European banks is exploited with simulated scale-free networks. The average contagion affected 70% and 40% of European banks' total assets in 2007 and in 2010, respectively. Country-level results suggest that French, British, German and Spanish banks are the most contagious ones, whereas banks from Ireland, Greece and Portugal induce only limited negative effects. Secondly, cross-sectional panel estimations are performed to disentangle the leading indicators influencing the level of contagion. Bank clustering, large in-coming interbank loans and bank reputation are more prominent explanatory variables than the size or leverage. Finally, central banks' interventions reduce contagion only slightly. Keywords: contagion, banks, Europe, interbank, epidemiology, panel regression JEL codes: G01, G21, C15
  • Toivanen, Mervi (2005)
    Bank of Finland. Financial market report 4
    Banks' operating profits continued to improve in January September 2005. Income increased more than expenses, and banks recorded low impairment losses on loans. Capital adequacy ratios in the Finnish banking sector remained high on average.
  • Toivanen, Mervi (2006)
    Bank of Finland. Financial market report 4
    As a result of positive developments in the domestic operating environment, banks' operating profits continued to increase in January September 2006. Results were boosted particularly by the growth and expansion of business operations, several non-recurring items, and items measured at fair value in accordance with International Financial Reporting Standards (IFRS).
  • Toivanen, Mervi (2000)
    Suomen Pankin tilasto-osaston työpapereita; Bank of Finland statistics department working papers 3/2000
  • Toivanen, Mervi (2009)
    Bank of Finland Research Discussion Papers 6/2009
    Using the maximum entropy method, this paper estimates the danger of contagion in the Finnish interbank market in 2005 2007 as well as the existence of contagion during a Finnish banking crisis. The contagion analysis of the early 1990s is able to predict the most troublesome and defaulting banks in the banking sector. The simulation results for 2005 2007 suggest that five of ten deposit banks are possible starting points for contagious effects. The magnitude of contagion is conditional on the first failing bank. In addition to large commercial banks, middle-sized banks also cause damaging domino effects. Over the last few years, the negative effects of contagion on the Finnish banking sector have been, on average, more limited than those of the early 1990s. The contagion is currently a low probability event in the Finnish interbank market.