Financial Stability Review 2/2004

Financial Stability Review, November 2004

CONTENTS

SUMMARY
Macroeconomic and External Environment
Corporate Financial Behaviour and Risks
Financial Behaviour of Households and Their Risks
Banking Sector
Securities Market and Other Financial Intermediaries
Payment Systems
Summary and Financial Stability Risks
I GLOBAL ECONOMY AND ESTONIAN ECONOMY
External Environment
Global Economic Cycle
International Financial Markets
Estonian Economy and Macroeconomic Risks
Economic Growth, External Balance and Inflation
Corporate Business Situation
Confidence
Industrial Sales and Investments
New Companies and Bankruptcies
Corporate Profitability
Economic Situation of Households
Labour Market
Confidence and Household Budget Surveys
Structure of Financial Intermediation and Financial Deepening
II FINANCIAL BEHAVIOUR OF COMPANIES AND HOUSEHOLDS AND THEIR RISKS
Companies
Financial Position and Saving
Corporate Debt
Debt Mediated by Domestic Financial Sector
Households
Financial Position and Saving
Household Debt and Loan-Servicing Ability
Level and Growth of Debt
Housing Loans
Consumer Loans
Loan Conditions
Households' Loan-Servicing Ability
BACKGROUND INFORMATION
Return on Real Estate Used for Housing and Financial Assets
Price Level of Real Estate and Economic Growth
III BANKING SECTOR STABILITY AND RISKS
Strategic Development in the Banking Market
Capital Adequacy
Quality of Assets
Efficiency and Profitability
Solo Profitability of Banks
Profitability of Leasing Companies
Consolidated Profitability
Liquidity
Financing of Banks
Liquid Assets
BACKGROUND INFORMATION
Evaluation of the Stability of the Banking Sector on the Basis of Financial Soundness Indicators
IV SECURITIES AND MONEY MARKET
Money Market
Bond Market
Stock Market
BACKGROUND INFORMATION
Securities Market Infrastructures in Estonia Against the Background of Integration with the European Union
V OTHER FINANCIAL MARKETS
Investment Funds
Pension Funds and Insurance
Insurance Companies
VI PAYMENT SYSTEMS
Settlement System of Interbank Payments
Payment Intermediation
Payment Environment
Payments via Credit Institutions
Use of Payment Cards
BACKGROUND INFORMATION
Charges for Payments in Euro within the European Union
Direct Debits

Full text (PDF, 554 kb)

* To read PDF file(s), you need Adobe® Acrobat® Reader™ freeware, it may be downloaded from Adobe homepage.