Contents
Foreword and structure of the report
Summary: Robust financial sector in Denmark
Financial
institutions and financial and economic
developments
Turmoil in the financial markets
More subdued growth in the Danish
Financial
institutions – declining bank earnings
The risk outlook
Overview of
significant risks to financial stability
The subprime crisis
sets the agenda
Risks to the Danish
economy
Rising financing
costs for banks
Higher interest rate
risk for the large banks
Higher credit risk for Danish
banks
Risks in
implementation of international legislation
Operational risks
Testing the banks' resilience
Methods for testing
the banks'
Macro stress test – Danish banks found to be robust
Sensitivity analysis – unchanged resilience since 2007
The market
assessment of the Nordic groups has deteriorated
The banking institutions' financial results
Danmarks
Nationalbank's oversight of the financial
infrastructure in Denmark
Kronos
The Sumclearing
VP settlement
Target
CLS
Danmarks Nationalbank's
response to the IMF-recommendations
ISSUE RELATED TO FINANCIAL STABILITY
Stress test
of the financial system
Model architecture
Submodels of the
stress test model
| FINANCIAL STABILITY 2008 The small picture on the cover shows a characteristic section of Danmarks Nationalbank's building, Havnegade 5 in Copenhagen. The building, which was constructed in 1965-78, was designed by the architect Arne Jacobsen (1902-71). Text may be copied from this publication cost-free provided that Danmarks Nationalbank is specifically stated as the source. Changes to or misrepresentation of the content are not permitted. Financial stability 2008 is available on Danmarks Nationalbank's website:www.nationalbanken.dk under publications. Financial stability is also available on request from: Danmarks Nationalbank, Communications, Havnegade 5, DK-1093 Copenhagen K Telephone +45 33 63 70 00 (direct) or +45 33 63 63 63 Office hours, Monday-Friday 9.00 am-16.00 pm. E-mail: kommunikation@nationalbanken.dk www.nationalbanken.dk This publication is based on information available up to 30 April 2008. Explanation of symbols: - Magnitude nil 0 Less than one half of unit employed · Category not applicable na.Numbers not available Details may not add due to rounding. Schultz Grafisk A/S ISSN 1602-057X ISSN (Online) 1602-0588 |
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