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Cross-border financial positions and exposures – Some suggestions from the Riksbank

Cross-border financial positions and exposures – Some suggestions from the Riksbank. IMF-FSB Users Conference. The Swedish banking system. Dominated by four banks, supervised by FSA Total assets:  EUR 1000 bn (>300 percent of GDP) Assets are mainly loans, held to maturity

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Cross-border financial positions and exposures – Some suggestions from the Riksbank

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  1. Cross-border financial positions and exposures – Some suggestions from the Riksbank IMF-FSB Users Conference

  2. The Swedish banking system • Dominated by four banks, supervised by FSA • Total assets:  EUR 1000 bn (>300 percent of GDP) • Assets are mainly loans, held to maturity • Large cross border exposures, but no “shadow banking system” (simplifies a lot)

  3. Lending per geographical area and borrower categoryPer cent of total lending Sources: Bank reports and the Riksbank Chart 3:3

  4. Allocation of assets weighted for riskPer cent, March 2009 Sources: Bank reports and the Riksbank Chart 3:8

  5. The Riksbank • Non-regulatory central bank, but far-reaching abilities to obtain data bank-specific data • ” Upon the request of the Riksbank, a credit institution or another company which is subject to the supervision of the Financial Supervisory Authority shall provide the Riksbank with such information as the Riksbank considers necessary…“ • Also applies to subs and branches, but… • Often on ad-hoc basis • quite cumbersome • …much more efficient to get data from host authorities, but currently legal obstacles.

  6. Some suggestions (1) • Sharing of data between Riksbank and host authorities on SE banks operating overseas • FX transactions and open FX positions of subsidiaries • High frequency data on deposit flows and interbank loans • Distribution of LTV ratios in loan portfolios • Swedish banks’ usage of the lending facilities of other central banks

  7. FX deposits/total deposits in SE banks in Latvia(per cent)

  8. Some suggestions (2) • Securities transactions of Swedish subsidiaries • To what extent are subsidiaries buying treasury bills that are issued in host countries? • Issuance of securities by Swedish subsidiaries in local currency

  9. Some suggestions (3) • External debt obligations of non-financial firms • Balance-of-payment data not timely or granular enough • Inter-company loans? • Ultimate goal: find ways to better and quicker measure ”home-bias” in lending

  10. Some suggestions (4) • Better balance sheet data on the non-financial sector. • Micro data • Data on property market developments • Commercial property (vacancies, rents, prices) • Reliable residential property prices

  11. Thank you!

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