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

Banai, Adam; Kiraly, Julia; Nagy, Marton

dc.creator	Banai, Adam
dc.creator	Kiraly, Julia
dc.creator	Nagy, Marton
dc.date	2012-03-19T18:05:18Z
dc.date	2012-03-19T18:05:18Z
dc.date	2011-10-01
dc.date.accessioned	2023-02-17T21:00:07Z
dc.date.available	2023-02-17T21:00:07Z
dc.identifier	http://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	http://hdl.handle.net/10986/3600
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244564
dc.description	In 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.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5836
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ASSET PRICES
dc.subject	BAD DEBTS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK FINANCING
dc.subject	BANKING MARKET
dc.subject	BANKING SECTOR
dc.subject	BANKING SUPERVISION
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BRANCH NETWORK
dc.subject	BROKERS
dc.subject	BUDGET DEFICIT
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL MARKET
dc.subject	CAPITAL MARKETS
dc.subject	CAPITAL REGULATION
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CASH OUTFLOW
dc.subject	CENTRAL BANK
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANKING
dc.subject	COMMERCIAL BANKS
dc.subject	CONFLICT OF INTEREST
dc.subject	COOPERATIVE CREDIT
dc.subject	CREDIT BOOM
dc.subject	CREDIT BOOMS
dc.subject	CREDIT EXPANSION
dc.subject	CREDIT FLOW
dc.subject	CREDIT FLOWS
dc.subject	CREDIT GROWTH
dc.subject	CREDIT HISTORY
dc.subject	CREDIT INSTITUTIONS
dc.subject	CREDIT RISK
dc.subject	CREDITORS
dc.subject	CREDITWORTHINESS
dc.subject	CRISIS LENDING
dc.subject	CURRENCY CRISES
dc.subject	CURRENT ACCOUNT DEFICIT
dc.subject	DEBT
dc.subject	DEBT SERVICE
dc.subject	DEBT SERVICING
dc.subject	DEBTORS
dc.subject	DEBTS
dc.subject	DEFAULT RATES
dc.subject	DEPOSIT
dc.subject	DEPOSIT INSURANCE
dc.subject	DEPOSITS
dc.subject	DEPRECIATION
dc.subject	DERIVATIVES
dc.subject	DEVALUATION
dc.subject	DISBURSEMENT
dc.subject	DISBURSEMENTS
dc.subject	DOMESTIC BANKING
dc.subject	DOMESTIC BANKING SYSTEM
dc.subject	DOMESTIC BANKS
dc.subject	DOMESTIC CURRENCY
dc.subject	DOMESTIC MARKET
dc.subject	ECONOMIC IMBALANCES
dc.subject	ECONOMIC MODEL
dc.subject	ECONOMIC RISKS
dc.subject	EIB
dc.subject	EMERGING MARKETS
dc.subject	ENTRY BARRIER
dc.subject	EQUILIBRIUM
dc.subject	EQUILIBRIUM LEVEL
dc.subject	EQUILIBRIUM LEVELS
dc.subject	EQUILIBRIUMS
dc.subject	EUROPEAN CENTRAL BANK
dc.subject	EXCESS SUPPLY
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATE RISK
dc.subject	EXCHANGE RATES
dc.subject	EXCHANGE-RATE
dc.subject	EXPLANATORY VARIABLES
dc.subject	EXTERNAL FUNDING
dc.subject	EXTERNAL INDEBTEDNESS
dc.subject	EXTERNAL TRADE
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INTERMEDIATION
dc.subject	FINANCIAL MARKET
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCING REQUIREMENT
dc.subject	FLOW OF CREDIT
dc.subject	FORECLOSURE
dc.subject	FOREIGN ASSETS
dc.subject	FOREIGN BANKS
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY LENDING
dc.subject	FOREIGN CURRENCY LOAN
dc.subject	FOREIGN CURRENCY LOANS
dc.subject	FOREIGN CURRENCY REVENUES
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN FUNDS
dc.subject	FOREIGN INTEREST
dc.subject	FOREIGN INTEREST RATES
dc.subject	FOREIGN LOANS
dc.subject	GOVERNMENT BONDS
dc.subject	GOVERNMENT PAPERS
dc.subject	GOVERNMENT SECURITIES
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	HOLDING
dc.subject	HOME CURRENCY
dc.subject	HOME EQUITY
dc.subject	HOME EQUITY LOANS
dc.subject	HOUSING
dc.subject	INDEBTEDNESS
dc.subject	INDIVIDUAL LOAN
dc.subject	INFLATION
dc.subject	INFORMATION ASYMMETRY
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INTERBANK MARKETS
dc.subject	INTEREST RATE DIFFERENTIAL
dc.subject	INTEREST RATE VOLATILITY
dc.subject	INTEREST RATES
dc.subject	INTEREST RATES ON LOANS
dc.subject	INTEREST-RATE
dc.subject	INTERNAL SAVINGS
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL FINANCIAL INSTITUTIONS
dc.subject	ISSUANCE
dc.subject	LABOR MARKET
dc.subject	LACK OF TRANSPARENCY
dc.subject	LEGISLATION
dc.subject	LENDER
dc.subject	LENDER OF LAST RESORT
dc.subject	LENDERS
dc.subject	LEVIES
dc.subject	LEVY
dc.subject	LIABILITY
dc.subject	LIABILITY SIDE
dc.subject	LIQUID ASSET
dc.subject	LIQUID ASSETS
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY CRISIS
dc.subject	LIQUIDITY MANAGEMENT
dc.subject	LIQUIDITY POSITION
dc.subject	LIQUIDITY PROBLEMS
dc.subject	LIQUIDITY RATIO
dc.subject	LIQUIDITY RATIOS
dc.subject	LIQUIDITY RISKS
dc.subject	LOAN
dc.subject	LOAN AGREEMENTS
dc.subject	LOAN CONTRACT
dc.subject	LOAN MARKET
dc.subject	LOAN PORTFOLIO
dc.subject	LOAN PORTFOLIOS
dc.subject	LOAN PRODUCT
dc.subject	LOAN PRODUCTS
dc.subject	LOAN VOLUME
dc.subject	LOANS FROM BANKS
dc.subject	LOCAL BANKS
dc.subject	LOCAL CURRENCY
dc.subject	LONG-TERM LOANS
dc.subject	MACROECONOMIC VARIABLES
dc.subject	MARKET ENVIRONMENT
dc.subject	MARKET PLAYERS
dc.subject	MARKET SEGMENT
dc.subject	MARKET SHARE
dc.subject	MATURITY
dc.subject	MATURITY MISMATCH
dc.subject	MATURITY MISMATCHES
dc.subject	MONETARY FUND
dc.subject	MONETARY POLICY
dc.subject	MONETARY REGIME
dc.subject	MORTGAGE
dc.subject	MORTGAGE BOND
dc.subject	MORTGAGE BOND MARKET
dc.subject	MORTGAGE BONDS
dc.subject	MORTGAGE LENDING
dc.subject	MORTGAGE LOAN
dc.subject	MORTGAGE LOANS
dc.subject	MORTGAGES
dc.subject	MULTINATIONAL BANK
dc.subject	MUNICIPAL BONDS
dc.subject	NOMINAL INTEREST RATES
dc.subject	NONPERFORMING LOANS
dc.subject	OPEN ECONOMY
dc.subject	OUTSTANDING AMOUNT
dc.subject	PORTFOLIO QUALITY
dc.subject	PORTFOLIOS
dc.subject	PREPAYMENT
dc.subject	PRIVATE CREDIT
dc.subject	PRIVATIZATION
dc.subject	PROBABILITY OF DEFAULT
dc.subject	PROFITABILITY
dc.subject	PRUDENTIAL SUPERVISION
dc.subject	PUBLIC DEBT
dc.subject	RAPID GROWTH
dc.subject	REAL INTEREST
dc.subject	REAL INTEREST RATE
dc.subject	RECESSION
dc.subject	REGULATORY AUTHORITIES
dc.subject	RESERVE
dc.subject	RESERVE RATIOS
dc.subject	RESERVE REQUIREMENT
dc.subject	RESERVE REQUIREMENTS
dc.subject	RESERVES
dc.subject	RETURN
dc.subject	RISK EXPOSURE
dc.subject	RISK FACTOR
dc.subject	RISK MANAGEMENT
dc.subject	RISK PREMIUM
dc.subject	SECONDARY MARKETS
dc.subject	SECURITIES
dc.subject	STATE GUARANTEE
dc.subject	STATE GUARANTEES
dc.subject	STATE INTERVENTION
dc.subject	STATE LOAN
dc.subject	STOCK MARKET
dc.subject	SUBSIDIARIES
dc.subject	SUPERVISORY AUTHORITY
dc.subject	SUPERVISORY POWER
dc.subject	SWAP
dc.subject	SWAP MARKET
dc.subject	SWAPS
dc.subject	SYSTEMIC RISK
dc.subject	TAX
dc.subject	TRADING
dc.subject	TRANSACTION
dc.subject	TRANSITION ECONOMY
dc.subject	TRANSPARENCY
dc.subject	UNCERTAINTY
dc.subject	UNDERDEVELOPED CAPITAL MARKET
dc.subject	UNSECURED LOANS
dc.subject	VARIABLE INTEREST RATES
dc.title	Home High Above and Home Deep Down Below : Lending in Hungary
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Europe and Central Asia
dc.coverage	Europe and Central Asia
dc.coverage	Europe
dc.coverage	Eastern Europe
dc.coverage	Hungary