Table 3
Main banks’ balance sheet items as a percentage of the total assets according to bank
according to bank liquidity
|
6 most liquid banks |
4 medium liquidity |
8 less liquid banks | |||||||
|
1992 |
1995 |
1998 |
1992 |
1995 |
1998 |
1992 |
1995 |
1998 | |
|
Assets | |||||||||
|
Credit to private non- |
37.7 |
34.1 |
34.8 |
49.0 |
40.1 |
43.5 |
50.4 |
50.7 |
44.1 |
|
Domestic money |
2.6 |
3.6 |
7.1 |
1.7 |
3.1 |
3.4 |
2.4 |
2.6 |
0.6 |
|
Government |
22.6 |
13.3 |
5.5 |
16.0 |
14.7 |
7.0 |
9.8 |
7.5 |
1.5 |
|
Deposits in foreign MFIs_____________ |
6.7 |
15.9 |
13.2 |
3.6 |
13.4 |
8.2 |
8.6 |
9.7 |
7.9 |
|
Liabilities | |||||||||
|
Deposits of private |
63.5 |
50.7 |
38.1 |
70.6 |
66.1 |
53.0 |
56.4 |
45.8 |
31.7 |
|
Domestic money |
2.2 |
4.1 |
7.5 |
1.1 |
1.0 |
1.1 |
6.9 |
7.0 |
2.9 |
|
Capital |
9.7 |
7.3 |
6.3 |
9.2 |
8.3 |
6.1 |
10.0 |
7.4 |
3.4 |
|
Deposits of foreign MFIs_____________ |
6.8 |
13.6 |
17.1 |
3.1 |
8.2 |
12.2 |
11.4 |
14.7 |
16.3 |
From Table 4 one concludes that the credit share is basically the same regardless the
capitalisation ratio, but no clear tendency exists for the deposits share. On the other hand
there seems to be a tendency for less capitalised banks to exhibit larger shares of
government bonds and for more capitalised banks to exhibit a larger share of deposits of
foreign MFIs.
Let us now focus on the econometric results. As expected, some preliminary tests
showed that in the last years of the sample the relation between credit granted to private
sector and deposits underwent a huge structural break. As the consequences of this
structural break seem to be more damaging for the estimated models when we introduce
data for 1998 we decided to exclude the observations for this last year from the analysis.
22