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Models for Stress Testing in the Insurance Sector
Komárková, Zlatuše ; Gronychová, Marcela
The project is focused on top-down stress testing of the Czech insurance sector. The aim of the present paper is to describe the advanced method for macro stress testing of insurance companies used by the CNB. We apply the presented stress test to eleven Czech insurance companies. The shocks applied are designed to replicate a macroeconomic scenario and to impact on both the asset and liability sides of the balance sheet. We consider both investment and insurance risks relating to the Czech insurance sector. An application of the simulated scenario to the Czech insurance sector illustrates that the sector is sufficiently resilient and stable.
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Inter-company comparison
SOCHOROVÁ, Andrea
The main objective of this work is to perform inter-company comparison of five banking institutions using the single - and multi-criterial criterial methods in the period before and after the Global financial krizi.Na main objective ties secondary objective, which is concerned with the financial stability of the financial sector in the Czech Republic on the basis the results of stress tests performed by the Czech national Bank.
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Monetary Conditions and Banks’ Behaviour in the Czech Republic
Geršl, Adam ; Jakubík, Petr ; Kowalczyk, Dorota ; Ongena, Steven ; Alcalde, José-Luis Peydró
This paper examines the impact of monetary conditions on the risk-taking behaviour of banks in the Czech Republic by analysing the comprehensive credit register of the Czech National Bank. Our duration analysis indicates that expansionary monetary conditions promote risk-taking among banks. At the same time, a lower interest rate during the life of a loan reduces its riskiness. While seeking to assess the association between banks’ appetite for risk and the short-term interest rate we answer a set of questions related to the difference between higher liquidity versus credit risk and the effect of the policy rate conditioned on bank and borrower characteristics.
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Inflation targeting after the crisis
Zůna, Zdeněk ; Koderová, Jitka (advisor) ; Vránková, Martina (referee)
The subject of the presented thesis is the relationship between monetary policy executed within inflation targeting, asset prices and financial stability in the broader sense in order to identify key problems of the current approach and draw some conclusions on how inflation targeting could possibly further evolve. Flexible inflation targeting remained the best available monetary policy framework, despite some revisions are apparently needed. It turned out, that changes in the financial sector have much greater impact on economic activity, than previously thought, and which the new approach will need to take into account.
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Comparison regulation and supervision in Great Britain and in the Czech Republic
Beneš, Jonáš ; Blahová, Naděžda (advisor) ; Brada, Jaroslav (referee)
Resume: This Bachelor's dissertation focuses on topick comparison regulation in Great Britain and in the Czech Republic and its harmonization on European and global level. In this dissertation is explained the supervision system and regulation in Great Britain and planned changes due to financial crisis which started in 2009. This dissertation covers most important harmonizing institutions and tools, witch affecting harmonization. The most important part is comparison of thet four main parts of supervision and regulation and the approach of the bouth countries to this issues.
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Default of households as the indicator of the financial stability
Michlová, Veronika ; Blahová, Naděžda (advisor) ; Brada, Jaroslav (referee)
This thesis deals with the default of households as one of the indicators of financial stability in the Czech Republic. Specifically, it studies increasing indeptedness of households and risks which endanger financial system. The aim is to analyze the main macroeconomic and microeconomic factors that affect households default and to determine their dependence on the non-performing loans. The conclusion summarizes the results of the thesis and suggests recommendations for central and commercial banks.
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Financial stability in terms of the Czech republic
Hustolesová, Lucie ; Čermáková, Klára (advisor) ; Sedláček, Petr (referee)
This bachelor thesis is supposed to evaluace financial stability in terms of the Czech Republic. To evaluace financial stability, I adopted three criterions from the economist Frederic S. Mishkin, which are in correspondence with financial stability's assumptions of the Czech national bank. These criterions are 1. the price stability, 2. the coordination of monetary and fiscal policy and 3. the bank sector supervision. I use tools of regression analysis as well as datas international comparison. I evaluate all three assumptions gradually and consecutively I draw a conclusion about financial stability of the czech economy based on the criterions' state of fulfilment.
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