Blar i Staff Memo på emneord "financial stability"
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A Composite Indicator of Systemic Stress (CISS) for Norway – a Reference Indicator for the Reduction of the Countercyclical Capital Buffer
(Staff Memo;4/2015, Working paper, 2015)This paper constructs a Composite Indicator of Systemic Stress (CISS) for Norway using a portfolio-theoretic framework as in Holló, Kremer and Lo Duca (2012) to facilitate real-time monitoring of the short-term development ... -
The commercial real estate market - no longer a “black box”
(Staff Memo;6/2022, Working paper, 2022)Norwegian banks’ exposure to commercial real estate (CRE) is substantial. Historically, banks in Norway and in other countries have incurred considerable losses on loans to this sector during financial crises. Publicly ... -
The demand for safe liquid assets and the implications of issuing a Central Bank Digital Currency for bank funding instruments
(Staff Memo;8/2020, Working paper, 2020)The pros and cons of issuing a Central Bank Digital Currency (CBDC) is currently debated by Norges Bank and other central banks. A CBDC would grant access to the central bank balance sheet to a broader set of economic ... -
Financial imbalances and medium-term growth-at-risk in Norway
(Staff Memo;5/2020, Working paper, 2020)We examine how measures of financial imbalances affect macroeconomic tail risks over the medium-term in Norway and in other advanced economies. We use a broad set of financial indicators to capture cyclical systemic risk ... -
Government support schemes during the Covid-19 pandemic have had a dampening effect on corporate credit risk
(Staff Memo;3/2021, Working paper, 2021)After the Covid-19 pandemic broke out, the authorities have introduced a number of measures aimed at the business sector. Support has largely been given to the sectors hardest hit by the pandemic and measures to contain ... -
The housing Phillips curve and momentum in the Norwegian housing market
(Staff Memo;10/2023, Working paper, 2023)This paper provides descriptive evidence for a housing Phillips curve in Norway, suggesting a negative relationship between the ratio of inventory-to-sales and subsequent house price growth in the market for existing homes. ... -
What drives office rents?
(Staff Memo;12/2019, Working paper, 2019)Banks have substantial exposures to commercial real estate (CRE). Rental prices are important for CRE companies’ debt-service capacity, which in turn affects the risk of future bank losses. In this paper, we estimate error ...