%D 2014
%P 204-223
%O Nyelvi vĂĄltozat: What are the Differences Between the Currencies of Foreign Exchange Loans?
PÉNZÜGYI SZEMLE/PUBLIC FINANCE QUARTERLY (0031-496X 2064-8278): 59 (2) pp 187-206 (2014)
%I szte
%X Bank solvency is influenced by foreign currency lending – 
through fluctuations in the exchange rate of the currency on 
which the loans are based. The current paper analyses the 
extremity of these fluctuations and the time-variance of the 
currency correlations in the case of the Hungarian forint and 
Czech koruna (as a control variable) against the main FCL 
currencies like euro, Swiss franc and Japanese yen. We 
compared 
anomalies in the pricing of the currencies with the period 
before the crisis by dividing the five years of the crisis 
into 
three distinct periods on the basis of the main measures 
taken 
by the leading central banks, which impacted the currency 
markets. As a result of our analysis, we can conclude that 
following the development and prevalence of currency swap 
agreements, originally planned as a temporary measure, 
throughout the five year period, there was a reduction in the 
fluctuation of these floating currencies, combined with a 
decline in the historically close comovement of the European 
currencies. From an institutional development point of view, 
this serves to emphasise the significance of the crisis 
management model based on central banks’ cooperation and 
assumes 
the supervisory and regulatory mandates of the monetary 
policy.
%J PÉNZÜGYI SZEMLE/PUBLIC FINANCE QUARTERLY (1963-)
%R MTMT:2715735
%A  Kiss GĂĄbor DĂĄvid
%A  Schuszter TamĂĄs
%L publicatio21832
%N 2
%T Miben kĂźlĂśnbĂśznek a devizaalapĂş hitelek devizĂĄi?
%V 59