We use unique features of the private credit market to examine whether currency risk is a priced systematic risk at the …

implies that firms do not perfectly hedge against exchange rate risk and that this risk translates into credit risk for banks …

presence of foreign currency mortgages in Hungary and study this country`s comprehensive credit registry. Changes in monetary …We study how monetary conditions change the supply by banks of mortgage credit to households. We exploit the widespread … conditions not only affect the supply of credit in volume, but also in its currency and risk composition. Hence, we establish a …

. Disregarding countries that joined the euro area, Hungary was the only state where household FX loans were completely phased out …. The aim of the paper is to provide a structured presentation of the circumstances of the FX loan conversion in Hungary and … household FX loans in Hungary from the point of view of the legal considerations, the interest rate environment, the …

This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that … private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary … positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in …