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Are Shadow Banks Hiding in Croatia as Well?

Author

Listed:
  • Mirna Dumičić

    (Croatian National Bank)

  • Tomislav Ridzak

Abstract

This paper aims to shed some light on the term shadow banking and the importance of examining shadow banks and their activities from the point of view of financial stability. In this context, an analysis was made of the domestic financial system and business practices in order to assess the role of shadow banks in Croatia and identify systemic risks that may arise from that source. The analysis results suggest that the share of non-bank financial institutions and the maturity structure of their liabilities and claims do not currently pose a risk that could threaten financial stability. However, potential systemic risks are associated with the high level of shortterm exposures of non-bank financial institutions to banks, the substantial exposure of some of them to the government, and the strong reliance of some institutions on foreign financing sources. The group of other financial intermediaries, including leasing, factoring and credit unions, stands out among the most risky institutions.

Suggested Citation

  • Mirna Dumičić & Tomislav Ridzak, 2016. "Are Shadow Banks Hiding in Croatia as Well?," Surveys 20, The Croatian National Bank, Croatia.
    • Handle: RePEc:hnb:survey:20
    as

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    File URL: http://www.hnb.hr/repec/hnb/wpaper/pdf/s-020.pdf
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    Citations

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    Cited by:

    1. Jordan Kjosevski & Mihail Petkovski & Aleksandar Stojkov, 2020. "The impact of macroeconomic and financial factors on shadow banking in the new EU member states," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(2), pages 407-427.

    More about this item

    Keywords

    shadow banks; banking sector; non-bank financial institutions; macroprudential policy; financial stability; systemic risks; Croatia;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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