Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

June 12, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This note analyzes macro-financial interlinkages, sectoral dependencies, and potential balance sheet vulnerabilities for all resident sectors. The mission used the sectoral balance sheets compiled by the National Bank of Romania (NBR)2 to map balance sheet exposures and potential contagion channels among different sectors. The construction of intersectoral network maps sheds light on balance sheet vulnerabilities and how these developed over time, potentially leading to risks building up. This analysis helps to understand causes and effects of macro-financial imbalances, provides a coherent context in which net lending and borrowing stocks cover all sectors, and supports the development of remedial policies outlined in other areas of the FSAP.

Series:

Country Report No. 18/162