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Demographic Change, Bank Strategy and Financial Stability

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  • Stefan W. Schmitz

    (Oesterreichische Nationalbank)

Abstract

The purpose of this article is to disseminate the main results of the program “Ageing and Its Implications for Banks and Bank Strategy” of the Oesterreichische Nationalbank’s (OeNB’s) Financial Markets Analysis and Surveillance Division and to draw conclusions about the implications of aging for financial stability. The first question that arises is whether demographic change is relevant for banks and financial stability at all. The paper answers this question in the affirmative and goes on to analyze the impact of demographic change on the environment in which banks operate, i.e. on economic growth, interest rates, and residential real estate markets, and on the level and composition of household demand for bank services and products. The article summarizes how banks might adapt their strategies in response to demographic change. Finally, it draws conclusions about the potential implications for financial stability.

Suggested Citation

  • Stefan W. Schmitz, 2007. "Demographic Change, Bank Strategy and Financial Stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 13, pages 98-114.
    • Handle: RePEc:onb:oenbfs:y:2007:i:13:b:3
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    File URL: https://www.oenb.at/dam/jcr:56b7283a-cd2c-4917-b8c2-46023af14a70/fsr_13_special_topics_03_tcm16-57629.pdf
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    References listed on IDEAS

    as
    1. Ramon Gomez-Salvador & Alberto Musso & Marc Stocker & Jarkko Turunen, 2006. "Labour productivity developments in the euro area," Occasional Paper Series 53, European Central Bank.
    2. repec:dgr:rugggd:200363 is not listed on IDEAS
    3. Peter Mooslechner & Helene Schuberth & Beat Weber (ed.), 2006. "The Political Economy of Financial Market Regulation," Books, Edward Elgar Publishing, number 3947.
    4. Timmer, Marcel P. & Ypma, Gerard & Ark, Bart van der, 2003. "IT in the European Union: driving productivity divergence?," GGDC Research Memorandum 200363, Groningen Growth and Development Centre, University of Groningen.
    5. Stefan W. Schmitz, 2005. "Demographic Developments, Funded Pension Provision and Financial Stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 9, pages 93-109.
    6. Turunen, Jarkko & Musso, Alberto & Stocker, Marc & Gómez-Salvador, Ramón, 2006. "Labour productivity developments in the euro area," Occasional Paper Series 53, European Central Bank.
    7. Ignazio Visco & Barry Eichengreen & Gilles Mourre & Declan Costello & Giuseppe Carone & Nuria Diez Guardia & Bartosz Przywara & Aino Salomäki & Vincenzo Galasso & Mark Weth & Sebastian Schich & Etienn, 2007. "Money, Finance and Demography: The Consequences of Ageing," SUERF Colloquium Volumes, SUERF - The European Money and Finance Forum, number 1 edited by Morten Balling & Ernest Gnan & Frank Lierman, March.
    8. Clark, Gordon L., 2004. "Pension fund governance: expertise and organizational form," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(2), pages 233-253, July.
    9. Stefan W. Schmitz, 2005. "The Governance of Occupational Pension Funds and the Politico- Economic Implications: The Case of Austria," Finance 0508003, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Jan Babecky & Kamil Dybczak, 2009. "The Impact of Population Ageing on the Czech Economy," Working Papers 2009/1, Czech National Bank.
    2. Claudia Gabriela BAICU & Luise MLADEN & Diana CRĂCIUNAȘ, 2017. "Considerations regarding ageing impact on banking system – challenges, strategies," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 4(1), pages 42-48, October.

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    More about this item

    Keywords

    banks; demography; ageing; financial stability.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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