Financial Stability Review 1/2006

Financial Stability Review, May 2006

CONTENTS

SUMMARY
Macroeconomic and External Environment
Corporate Financial Behaviour and Related Risks
Financial Behaviour of Households and Related Risks
Banking Market
Securities Market and Other Financial Intermediaries
Conclusion and Financial Stability Risks
I GLOBAL ECONOMY AND ESTONIAN ECONOMY
EXTERNAL ENVIRONMENT
Global Economic Cycle
International Financial Markets
ESTONIAN ECONOMIC GROWTH AND MACROECONOMIC RISKS
Economic Growth, External Balance and Inflation
Corporate Business Situation
Confidence
Industrial Sales and Investment
New Companies and Bankruptcies
Corporate Economic Indicators
Economic Situation of Households
Labour Market
Wages
Confidence and Household Budget Surveys
II FINANCIAL BEHAVIOUR OF COMPANIES AND HOUSEHOLDS AND THEIR RISKS
COMPANIES
Financial Position and Saving
COMPILATION OF FINANCIAL ACCOUNTS IN EESTI PANK
Corporate Debt
Real Estate Financing by Domestic Banks
HOUSEHOLDS
Financial Position and Saving
Household Debt and Loan-Servicing Ability
Debt Level and Growth
Housing Loans
Consumer Credit
Households' loan servicing ability and risks
HOUSEHOLD LOAN GROWTH IN EUROPEAN COUNTRIES
III BANKING SECTOR STABILITY AND RISKS
Strategic Development of the Banking Sector
Quality of Assets
Capital Adequacy
Liquidity
Funding of Banks
Liquid Assets
Efficiency and Profitability
IV SECURITIES AND MONEY MARKET
Money Market
Bond Market
Stock Market
V OTHER FINANCIAL MARKETS
Investment Funds
Pension Funds and Insurance
Life Insurance
Non-life Insurance

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