Hungary: Financial System Stability Assessment Update, including a Report on the Observance of Standards and Codes on Insurance Regulation

International Monetary Fund

No 2005/212, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents an update to Hungary’s Financial System Stability Assessment, including a Report on the Observance of Standards and Codes on Insurance Regulation. The assessment reveals that financial intermediation in Hungary has continued to deepen. The expansion of bank lending at higher interest margins has resulted in a sharp increase in bank profitability. Although financial soundness indicators show that the banking system has evolved well overall, potential risks have emerged, which should be carefully monitored and appropriately addressed. Nonbank financial institutions remain relatively small and are not currently a source of systemic vulnerability.

Keywords: ISCR; CR; mortgage bank; foreign currency; bank subsidiary; financial system; mortgage bond; mortgage foreclosure; exchange rate; subsidy program; debt management; household loan; Mortgages; Loans; Pension spending; Financial Sector Assessment Program; Insurance companies; Eastern Europe; Global (search for similar items in EconPapers)
Pages: 46
Date: 2005-06-29
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