Transcript Bild 1 - International Monetary Fund

Cross-border
financial positions
and exposures –
Some
suggestions from
the Riksbank
IMF-FSB Users Conference
The Swedish banking
system
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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)
Lending per geographical area
and borrower category
Per cent of total lending
100
80
60
40
20
0
Sweden
Households
Chart 3:3
Other Nordic
countries
Baltic countries
Other countries
Companies, excluding property companies
Total
Property companies
Sources: Bank reports and the Riksbank
Allocation of assets weighted for risk
Per cent, March 2009
Operational risk
7%
Market risk 3%
Credit risk 90%
Chart 3:8
Sources: Bank reports and the Riksbank
The Riksbank
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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…
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Often on ad-hoc basis
quite cumbersome
…much more efficient to get data from host authorities,
but currently legal obstacles.
Some suggestions (1)
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Sharing of data between Riksbank and
host authorities on SE banks operating
overseas
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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
FX deposits/total deposits in SE banks in
Latvia
(per cent)
70
60
50
40
30
20
10
0
25-maj 27-maj 29-maj 31-maj 02-jun 04-jun 06-jun 08-jun 10-jun 12-jun 14-jun 16-jun 18-jun
Some suggestions (2)

Securities transactions of Swedish
subsidiaries
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To what extent are subsidiaries buying
treasury bills that are issued in host
countries?
Issuance of securities by Swedish
subsidiaries in local currency
Some suggestions (3)

External debt obligations of non-financial
firms
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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
Some suggestions (4)
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Better balance sheet data on the nonfinancial sector.
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Micro data
Data on property market developments
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Commercial property (vacancies, rents,
prices)
Reliable residential property prices
Thank you!