Financial Stability Review 2/2006
Financial Stability Review, November 2006
CONTENTS
- SUMMARY
- Macroeconomic and external environment
- Corporate financial behaviour and risks
- Financial behaviour of households and related risks
- Banking market
- Securities market and other financial intermediaries
- Payment systems
- Conclusions 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
- New companies and bankruptcies
- Corporate investment and economic indicators
- Economic situation of households
- Confidence and household budget surveys
- Labour market
- Wages
- II FINANCIAL BEHAVIOUR OF COMPANIES AND HOUSEHOLDS AND THEIR RISKS
- COMPANIES
- Financial position and saving
- Corporate debt
- Real estate financing by domestic banks
- HOUSEHOLDS
- Financial position and saving
- Real estate investments as savings
- Household debt and loan-servicing capability
- Level and growth of debt
- Housing loans
- Consumer credits
- DOES THE INCREASE IN REAL ESTATE PRICES AFFECT PRIVATE CONSUMPTION?
- Households' loan-servicing capability and risks
- ASSESSING THE DEVELOPMENT OF THE FINANCIAL SECTOR AND FINANCIAL DEEPENING
- III BANKING SECTOR STABILITY AND RISKS
- Strategic development of the banking sarket
- Quality of assets
- Capital adequacy
- CAPITALISATION OF BANKS
- Liquidity
- Funding of banks
- Liquid assets
- Efficiency and profitability
- IV MONEY AND 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
- 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 the payment systems
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