| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13923 |
| DP13923 Foreign currency loan conversions and currency mismatches | |
| Andreas Fischer; Pınar Yeşin | |
| 发表日期 | 2019-08-10 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper examines the effect of currency conversion programs from Swiss franc-denominated loans to other currency loans on currency risk for banks in Central and Eastern Europe (CEE). Swiss franc mortgage loans proliferated in CEE countries prior to the financial crisis and contributed to the volume of non-performing loans as the Swiss franc strongly appreciated during the post-crisis period. Empirical findings suggest that Swiss franc loan conversion programs reduced currency mismatches in Swiss francs but increased bank exposure in other foreign currencies in individual countries. This asymmetric effect of conversion programs arises from the loan restructuring from Swiss francs to a non-local currency and the high level of euro mismatches in the CEE banking system. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Loan conversion programs Emerging markets Currency mismatch |
| URL | https://cepr.org/publications/dp13923 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542804 |
| 推荐引用方式 GB/T 7714 | Andreas Fischer,Pınar Yeşin. DP13923 Foreign currency loan conversions and currency mismatches. 2019. |
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