Publication:
Home High Above and Home Deep Down Below : Lending in Hungary

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dc.contributor.authorBanai, Adam
dc.contributor.authorKiraly, Julia
dc.contributor.authorNagy, Marton
dc.date.accessioned2012-03-19T18:05:18Z
dc.date.available2012-03-19T18:05:18Z
dc.date.issued2011-10-01
dc.description.abstractIn Hungary in the pre-crisis period, the bank sector-initiated private credit boom significantly contributed to the accumulation of economic imbalances. Nevertheless, before the 2008 crisis no special regulatory measure was taken to mitigate the foreign exchange lending to unhedged borrowers, which was a main moving force of the credit boom. Depreciation of forint-denominated subsidized housing loans and the increased risk premium significantly deteriorated customers' positions and resulted in rocketing nonperforming loans. A recession, deteriorating portfolios, and lack of efficient workout. The introduction of strict regulation froze banking activity and the danger of recovery without lending emerged. This paper compares the pre- and post-crisis lending activity and analyzes the lack of regulation in the pre-crisis period and the inefficient regulation in the post-crisis period.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111005153617
dc.identifier.doi10.1596/1813-9450-5836
dc.identifier.urihttps://hdl.handle.net/10986/3600
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5836
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectASSET PRICES
dc.subjectBAD DEBTS
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANK FINANCING
dc.subjectBANKING MARKET
dc.subjectBANKING SECTOR
dc.subjectBANKING SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBRANCH NETWORK
dc.subjectBROKERS
dc.subjectBUDGET DEFICIT
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL REGULATION
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCASH OUTFLOW
dc.subjectCENTRAL BANK
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL BANKING
dc.subjectCOMMERCIAL BANKS
dc.subjectCONFLICT OF INTEREST
dc.subjectCOOPERATIVE CREDIT
dc.subjectCREDIT BOOM
dc.subjectCREDIT BOOMS
dc.subjectCREDIT EXPANSION
dc.subjectCREDIT FLOW
dc.subjectCREDIT FLOWS
dc.subjectCREDIT GROWTH
dc.subjectCREDIT HISTORY
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT RISK
dc.subjectCREDITORS
dc.subjectCREDITWORTHINESS
dc.subjectCRISIS LENDING
dc.subjectCURRENCY CRISES
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICING
dc.subjectDEBTORS
dc.subjectDEBTS
dc.subjectDEFAULT RATES
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITS
dc.subjectDEPRECIATION
dc.subjectDERIVATIVES
dc.subjectDEVALUATION
dc.subjectDISBURSEMENT
dc.subjectDISBURSEMENTS
dc.subjectDOMESTIC BANKING
dc.subjectDOMESTIC BANKING SYSTEM
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC MARKET
dc.subjectECONOMIC IMBALANCES
dc.subjectECONOMIC MODEL
dc.subjectECONOMIC RISKS
dc.subjectEIB
dc.subjectEMERGING MARKETS
dc.subjectENTRY BARRIER
dc.subjectEQUILIBRIUM
dc.subjectEQUILIBRIUM LEVEL
dc.subjectEQUILIBRIUM LEVELS
dc.subjectEQUILIBRIUMS
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXCESS SUPPLY
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE RISK
dc.subjectEXCHANGE RATES
dc.subjectEXCHANGE-RATE
dc.subjectEXPLANATORY VARIABLES
dc.subjectEXTERNAL FUNDING
dc.subjectEXTERNAL INDEBTEDNESS
dc.subjectEXTERNAL TRADE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCING REQUIREMENT
dc.subjectFLOW OF CREDIT
dc.subjectFORECLOSURE
dc.subjectFOREIGN ASSETS
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN CURRENCY LENDING
dc.subjectFOREIGN CURRENCY LOAN
dc.subjectFOREIGN CURRENCY LOANS
dc.subjectFOREIGN CURRENCY REVENUES
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FUNDS
dc.subjectFOREIGN INTEREST
dc.subjectFOREIGN INTEREST RATES
dc.subjectFOREIGN LOANS
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT PAPERS
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectHOLDING
dc.subjectHOME CURRENCY
dc.subjectHOME EQUITY
dc.subjectHOME EQUITY LOANS
dc.subjectHOUSING
dc.subjectINDEBTEDNESS
dc.subjectINDIVIDUAL LOAN
dc.subjectINFLATION
dc.subjectINFORMATION ASYMMETRY
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTERBANK MARKETS
dc.subjectINTEREST RATE DIFFERENTIAL
dc.subjectINTEREST RATE VOLATILITY
dc.subjectINTEREST RATES
dc.subjectINTEREST RATES ON LOANS
dc.subjectINTEREST-RATE
dc.subjectINTERNAL SAVINGS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectISSUANCE
dc.subjectLABOR MARKET
dc.subjectLACK OF TRANSPARENCY
dc.subjectLEGISLATION
dc.subjectLENDER
dc.subjectLENDER OF LAST RESORT
dc.subjectLENDERS
dc.subjectLEVIES
dc.subjectLEVY
dc.subjectLIABILITY
dc.subjectLIABILITY SIDE
dc.subjectLIQUID ASSET
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CRISIS
dc.subjectLIQUIDITY MANAGEMENT
dc.subjectLIQUIDITY POSITION
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLIQUIDITY RATIO
dc.subjectLIQUIDITY RATIOS
dc.subjectLIQUIDITY RISKS
dc.subjectLOAN
dc.subjectLOAN AGREEMENTS
dc.subjectLOAN CONTRACT
dc.subjectLOAN MARKET
dc.subjectLOAN PORTFOLIO
dc.subjectLOAN PORTFOLIOS
dc.subjectLOAN PRODUCT
dc.subjectLOAN PRODUCTS
dc.subjectLOAN VOLUME
dc.subjectLOANS FROM BANKS
dc.subjectLOCAL BANKS
dc.subjectLOCAL CURRENCY
dc.subjectLONG-TERM LOANS
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARKET ENVIRONMENT
dc.subjectMARKET PLAYERS
dc.subjectMARKET SEGMENT
dc.subjectMARKET SHARE
dc.subjectMATURITY
dc.subjectMATURITY MISMATCH
dc.subjectMATURITY MISMATCHES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectMONETARY REGIME
dc.subjectMORTGAGE
dc.subjectMORTGAGE BOND
dc.subjectMORTGAGE BOND MARKET
dc.subjectMORTGAGE BONDS
dc.subjectMORTGAGE LENDING
dc.subjectMORTGAGE LOAN
dc.subjectMORTGAGE LOANS
dc.subjectMORTGAGES
dc.subjectMULTINATIONAL BANK
dc.subjectMUNICIPAL BONDS
dc.subjectNOMINAL INTEREST RATES
dc.subjectNONPERFORMING LOANS
dc.subjectOPEN ECONOMY
dc.subjectOUTSTANDING AMOUNT
dc.subjectPORTFOLIO QUALITY
dc.subjectPORTFOLIOS
dc.subjectPREPAYMENT
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATIZATION
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPROFITABILITY
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectPUBLIC DEBT
dc.subjectRAPID GROWTH
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectRECESSION
dc.subjectREGULATORY AUTHORITIES
dc.subjectRESERVE
dc.subjectRESERVE RATIOS
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVE REQUIREMENTS
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRISK EXPOSURE
dc.subjectRISK FACTOR
dc.subjectRISK MANAGEMENT
dc.subjectRISK PREMIUM
dc.subjectSECONDARY MARKETS
dc.subjectSECURITIES
dc.subjectSTATE GUARANTEE
dc.subjectSTATE GUARANTEES
dc.subjectSTATE INTERVENTION
dc.subjectSTATE LOAN
dc.subjectSTOCK MARKET
dc.subjectSUBSIDIARIES
dc.subjectSUPERVISORY AUTHORITY
dc.subjectSUPERVISORY POWER
dc.subjectSWAP
dc.subjectSWAP MARKET
dc.subjectSWAPS
dc.subjectSYSTEMIC RISK
dc.subjectTAX
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSITION ECONOMY
dc.subjectTRANSPARENCY
dc.subjectUNCERTAINTY
dc.subjectUNDERDEVELOPED CAPITAL MARKET
dc.subjectUNSECURED LOANS
dc.subjectVARIABLE INTEREST RATES
dc.titleHome High Above and Home Deep Down Below : Lending in Hungaryen
dspace.entity.typePublication
okr.crossref.titleHome High Above and Home Deep Down Below-Lending in Hungary
okr.date.doiregistration2025-04-10T11:10:12.818882Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111005153617
okr.guid359361468254707163
okr.identifier.doi10.1596/1813-9450-5836
okr.identifier.externaldocumentum000158349_20111005153617
okr.identifier.internaldocumentum15222488
okr.identifier.reportWPS5836
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2011/10/05/000158349_20111005153617/Rendered/PDF/WPS5836.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.administrativeEurope and Central Asia
okr.region.countryHungary
okr.region.geographicalEurope
okr.region.geographicalEastern Europe
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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