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On the risk of sovereign exposures
[Nad rizikem svrchovaných expozic]

Author

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  • Naďa Blahová

Abstract

The article, in general terms, describes the sovereign risk and the risk of excessive concentration of sovereign exposures within the balance sheets of the banks. Based on an analysis focused on the development of this phenomenon within the given period, both in the Czech Republic and in other selected countries, the rate of effectiveness of the Czech central bank's position towards this potential source of financial instability was assessed. Mutual interconnection of the banking sector and the state is percieved as significant and potentially risky. The reasons are related to many interconnections that may adversely affect the stability of one or both sectors, in case of adverse changes, with an overlap into the real economy. The article highlights the main sections of mutual relationships between the state and the banking sector, trying to clarify them. Further, identifies the relevant sources of instability, that are being discussed.

Suggested Citation

  • Naďa Blahová, 2019. "On the risk of sovereign exposures [Nad rizikem svrchovaných expozic]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2019(1), pages 17-33.
    • Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:525:p:17-33
    DOI: 10.18267/j.cfuc.525
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    More about this item

    Keywords

    Sovereign risk; Sovereign debt; Public finance; Financial sector; Banking sector; Central bank; Concentration risk; Svrchované riziko; Státní dluh; Veřejné finance; Finanční sektor; Bankovní sektor; Centrální banka; Riziko koncentrace;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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