Financial Stability Review 2/2005

Financial Stability Review, November 2005

CONTENTS

SUMMARY
Macroeconomic and External Environment
Corporate Financial Behaviour and Related Risks
Financial Behaviour of Households and Related 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
New Companies and Bankruptcies
Industrial Sales
Corporate Profitability
Economic Situation of Households
Labour Market
Wages
Consumer Confidence
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 Intermediated by Domestic Financial Sector
Households
Financial Position and Saving
Household Debt and Loan-Servicing Ability
Level and Growth of Debt
Housing Loans
BACKGROUND INFORMATION
Factors Influencing the Growth of Deposits in Estonia
Structure and Development of Estonian Housing Market
III BANKING SECTOR STABILITY AND RISKS
Strategic Development in the Banking Market
Quality of Assets
Capital Adequacy
Liquidity
Funding of Banks
Liquid Assets
Efficiency and Profitability
Efficiency and Profitability of Banks on a Solo Basis
Efficiency and Profitability of Banks and Banking Groups on a Consolidated Basis
IV SECURITIES AND MONEY MARKET
Money Market
BACKGROUND INFORMATION
Structure of the Estonian Kroon Money Market
Bond Market
Stock Market
V OTHER FINANCIAL MARKETS
Investment Funds
Pension Funds and Insurance
Pension Fund Assets
Yield of Pension Funds
Insurance Companies
Institutional Changes
Life Insurance
Non-life Insurance
VI PAYMENT SYSTEMS
Settlement System of Interbank Payments
Payment Intermediation
Payment Environment
Payments via Credit Institutions
Use of Payment Cards
Assessment by the Overseer of Payment Systems
BACKGROUND INFORMATION
Performance of the Role of Payment Systems Oversight in Different Countries

Full text (PDF, 530 kb)

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