Have a personal or library account? Click to login
The attractiveness of FX housing loans for housholds in view of supervisory actions in selected EU countries Cover

The attractiveness of FX housing loans for housholds in view of supervisory actions in selected EU countries

Open Access
|Aug 2018

References

  1. Analysis on CHF – denominated loans (Feb. 2015), NBR.
  2. Balás, T. (2013). Households: Indebtedness and Debt Service Ratio, MNB Bulletin, 23.
  3. Balint, M., Fellner, Z. (2015). MNB Trends in Lending.
  4. Balogh. C., Gereben. A., Karvalits. F., Pulai. G. (2013). Foreign Currency Tenders In Hungary: A Tailor - Made Instrument for a Unique Challenge. BIS Papers,73, 159-168.
  5. Basso, H., S., Calvo-Gonzalez, O., Jurgilas, M. (2007). Financial Dollarization. The Role of Banks and Interest Rates. ECB Working Paper Series, 748.
  6. Beer, Ch., Ongena, S., Peter, M. (2010a). The Austrian Carry Trade: What Are The Characteristics of Households Borrowing in Foreign Currency? OeNB Financial Stability Report, no. 16.
  7. Beer, Ch., Ongena, S., Peter, M. (2010b). Borrowing in Foreign Currency: Austrian Households as Carry Traders. Journal of Banking & Finance, 34(2010), 2198-2211.
  8. Board Decision Dated 20 of Jan. 2009 Regarding Granting a Medium Term Financial Help for Lithuania, EU Official Journal, 2009/290/WE.
  9. Brief Outline of the Regulation Concerning FX Lending In Hungary (2013), ESRB.
  10. Brown, M., Ongena, S., Yeşin, P. (2010). Foreign Currency Borrowing By Small Firms In The Transition Economies. Journal of Financial Intermediation, 20(3)10.1016/j.jfi.2010.12.001
  11. Brown, M., Peter, M., Wehrmuller, S. (2009). Swiss Franc Lending In Europe. SNB.
  12. Brzoza-Brzezina, M., Chmielewski, T., Niedźwiedzińska, J. (2010). Substitution Between Domestic and Foreign Currency Loans In Central Europe. Do Central Banks Matter? ECB Working Paper Series, no. 1187.
  13. Brzoza-Brzezina, M., Kolasa, M., Makarski, K. (2015). Monetary and macroprudential policy with foreign currency loans. ECB Working Paper Series, no. 1783.10.2139/ssrn.2620703
  14. Bucharest Area Residential Market View (2013). CBRE Global Research and Consulting.
  15. Csajbok, A., Hudecz, A., Tamasi, B. (2010). Foreign Currency Borrowing of Households In New EU Member States. MNB Occasional Papers, no. 87.
  16. Dina, S. (2014). EU 28 Country Reports, Romania, Romanian Banking Association.
  17. Duenwald, Ch., Gueorguiev, N., Schaechter, A. (2005). Too Much of a Good Thing? Credit Booms In Transition Economies: The Cases of Bulgaria, Romania, and Ukraine, IMFWorking Paper, no. WP/05/128.
  18. Epstein, N., Tzanninis, D. (2005). Austria: Selected Issues, IMF Country Report, no. 05/249.
  19. ESRB Recommendations dated 21 of Sep. 2011 regarding FX loans, EU Official Journal, 2011/C 342/01.
  20. Extension of the FMA Min. Standards for Granting and Managing FX Loans and Loans with Repayment Vehicles of 16 Oct. 2003, Extension of 22 Mar. 2010, FMA.
  21. Financial Stability Report (2006), NBR.
  22. Financial Stability Review (Jun. 2010), ECB.
  23. Financial Stability Report (Feb. 2016), NBP.
  24. FMA-Minimum Standards for the Risk Management and Granting of Foreign Currency Loans and Loans with Repayment Vehicles(FMA-FXTT-MS) (02.01.2013), FMA.
  25. FX Loans and Loans with Repayment Vehicles (2008), FMA.
  26. Gdy się chce, to można! Węgrzy spłacają już kredyty po sztywnym kursie franka (2015). Retrieved from http://wpolityce.pl/gospodarka/229982-gdy-sie-chce-to-mozna-wegrzy-splacaja-juz-kredyty-po-sztywnym-kursie-franka.
  27. Hasan, I., Marton, K. (2000). Development And Efficiency of The Banking Sector in a Transitional Economy: Hungarian Experience. Bank of Finland Institute for Economies in Transistion, BOFIT Discussion Papers, no. 7/2000.10.2139/ssrn.1016058
  28. Information About Consequences of The Project of The Act Related Ways of Restoring an Equality of The Two Sides Of Some Loans’ Agreements For Financial Institutions (2016), FSA.
  29. Kolozsi, P., P., Banai, A., Vonnak, B. (2015). Phasing out Household Foreign Currency Loans: Schedule and Framework. Financial and Economic Review, 14(3), 60-87.
  30. Kreko, J., Endeesz, M. (2010). The Role of Foreign Currency Lending In The Impact of The Exchange Rate on the Real Economy, MNB Bulletin.
  31. Łaszek, J., Augustyniak, H., Olszewski, K. (2015). FX Mortgages, Housing Boom and Financial Stability – A Case Study for Poland.
  32. Mero. K., Piroska. D. (2015). Central and Eastern European Countries’ Twist With Macroprudential Policies – The Cases of Hungary and Slovakia, International Business School Working Paper, no. 5.
  33. Min. Standards for Granting and Managing FX Loans of 16 Oct. 2003, FMA.
  34. Neagu, F., Tatarici, L., Mihai, I. (2015). Implementing Loan-to-value and Debt Service-to-income Measures: A Decade of Romanian Experience, NBR Occasional Papers, no. 15.
  35. Pellenyi, G., Bilek, P. (2009). Foreign Currency Borrowing: The Case of Hungary, FINESS Working Paper, no. D.5.4.
  36. Ranaldo, A., Söderlind, P. (2007). Safe Haven Currencies, SNB Working Papers, no 17.
  37. Report on Financial Stability (Apr. 2011), MNB.
  38. Report on Financial Stability (Nov. 2014), MNB.
  39. Rosenberg, Ch., B., Tirpak, M. (2008). Determinants of Foreign Currency Borrowing in the New Member States of the EU. IMF Working Paper, WP/08/173.10.5089/9781451870312.001
  40. Ross, A. (2012). Romania Steps in to Strengthen Leu, Financial Times, Retrieved from http://www.ft.com/intl/cms/s/0/73c6596a-dfbc-11e1-b81c-00144feab49a.html#axzz41UNCXFjr
  41. Schneider, M., Tornell, A. (2004). Balance Sheet Effects, Bailout Guarantees and Financial Crises. Review of Economic Studies, no. 00, 1-31.10.1111/j.1467-937X.2004.00308.x
  42. Sepsi, B., Fenyves, V. (2014). Some Thoughts on the Repayment Methods of Hungarian Household Forex Loans. University of Debrecen Scientific Papers, Applied Studies in Agribusiness and Commerce – APSTRACT, 8(2–3), 17–23.10.19041/APSTRACT/2014/2-3/2
  43. The Act dated 8 of Sep. 2006 related the financial support for families in purchasing flats. The Journal of Laws, no. 183, item 1354 and later changes.
  44. The Act dated 27 of Sep. 2013 related the state support for youngsters purchasing a first flat. The Journal of Laws 2013, item 1304, 1608 and later changes.
  45. Trends in Lending (Jun. 2015), MNB.
  46. Waschiczek, W. (2002). Foreign Currency Loans in Austria-Efficiency and Risk Considerations, OeNB Financial Stability Report, no. 4.
  47. Węgry leczą kaca po franku. Przewalutowanie kredytów kosztuje 5 proc. PKB. (2015). Retrieved from http://forsal.pl/artykuly/852342,przewalutowanie-kredytow-frankowych-na-wegrzech-kosztuje-5-proc-pkb.html.
  48. Yesin, P. (2013). Foreign Currency Loans and Systemic Risk in Europe. Federal Reserve Bank of St. Louis Review, 95(3), 219-235.
  49. Zbierzchowska, D. (2010), Konsekwencje stosowania określonych systemów kursowych w warunkach kryzysu finansowego na przykładzie krajów Europy Środkowo-Wschodniej, Equilibrium, 1(4). ISSN 689-765X.
Language: English
Page range: 37 - 53
Submitted on: Sep 7, 2017
Accepted on: Dec 10, 2017
Published on: Aug 6, 2018
Published by: University of Information Technology and Management in Rzeszow
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2018 Marta Świerczyńska, Mariola Węglińska, published by University of Information Technology and Management in Rzeszow
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.