The shape and dynamics of the yield curve provide useful information in the analysis of current economic and financial developments, and market expectations. This article describes the key theoretical factors affecting the yield curve and examines their role in the developments in advanced and...

Our article discusses the 2012 European Union regulation on naked CDS positions and its effects on CDS market developments in Central and Eastern European EU Member States. Although following the adoption of the regulation in March, an adjustment period of nearly seven months was available until...

The importance of interbank rate quotations is enormous from the aspect of pricing loans, deposits, and financial instruments, and in general for the efficiency of resource allocation mechanisms in the economy. Consequently, it is crucial to ensure that interest rate quotations are defined in a...

Despite near-zero interest rates set by large central banks and other steps towards monetary easing in recent years, the economic environment has been characterised by low inflation globally and deflationary fears in some regions, while real economic activity has remained moderate. Although...

This study focuses on the elements of short-dated forward yields in Hungary and other emerging market economies – short-rate expectations and the term premium – and the influences on their behaviour. The rate expectations are proxied by median values of analyst surveys. Principal components...

In Hungary in the pre-crisis period the bank sector initiated private credit boom significantly contributed to the accumulation of economic imbalances. Nevertheless, before the 2008 crisis no special regulatory measure was taken to mitigate the FX lending to unhedged borrowers, which was one of...