CRR III / CRD VI regulativa in direktiva za kapitalsko ustreznost bank in obseg kreditiranja v državah EU

Trojner Horvat, Lucija

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Title:	CRR III / CRD VI regulativa in direktiva za kapitalsko ustreznost bank in obseg kreditiranja v državah EU
Authors:	ID Trojner Horvat, Lucija (Author) ID Festić, Mejra (Mentor) More about this mentor... ID Fir, Nejc (Comentor)
Files:	MAG_Trojner_Lucija_2026.pdf (3,03 MB) MD5: 448B8DDFD827AAC2AEF7AF495B968B2B
Language:	Slovenian
Work type:	Master's thesis/paper
Typology:	2.09 - Master's Thesis
Organization:	EPF - Faculty of Business and Economics
Abstract:	Bančna kapitalska ustreznost je eden temeljnih stebrov finančne stabilnosti, saj banke prek kreditiranja gospodinjstev in podjetij neposredno vplivajo na gospodarsko aktivnost. Po svetovni finančni krizi so mednarodni regulatorji zaostrili kapitalske zahteve za banke z namenom povečati njihovo odpornost na prihodnje finančne šoke. Evropska unija je zadnjo generacijo Baselskih standardov v svoj pravni red prenesla z Uredbo (EU) 2024/1623 (CRR III) in Direktivo (EU) 2024/1619 (CRD VI), ki prinašata predvsem uvedbo spodnje meje pri izračunu tveganju prilagojene aktive, novo metodo merjenja operativnega tveganja ter okrepljene zahteve na področju okoljskih, družbenih in upravljavskih dejavnikov. Kljub jasnemu regulativnemu namenu ostaja odprto vprašanje, ali strožje kapitalske zahteve zožijo ponudbo kreditov gospodarstvu, saj banke kapital, zaradi davčnih, informacijskih in drugih tržnih nepopolnosti, pogosto obravnavajo kot dražji vir financiranja od dolga, kar odstopa od teoretične predpostavke o nevtralnosti kapitalske strukture podjetja. V empiričnem delu smo s pomočjo panelnega regresijskega modela na vzorcu 21 držav Evropske unije med letoma 2015 in 2024 analizirali vpliv kapitalske ustreznosti bančnega sektorja in izbranih makroekonomskih dejavnikov, med drugim gibanja na nepremičninskem trgu, razpoložljivega dohodka, inflacije in števila prebivalstva na obseg kreditiranja, ki je izražen kot delež bruto domačega proizvoda. Ugotovili smo, da med povprečnim kapitalskim količnikom Tier 1 in obsegom kreditiranja obstaja statistično značilna in robustna negativna povezava, medtem ko se je od preostalih dejavnikov kot robustno pomembno izkazalo le število prebivalstva. Gibanje kapitalskih količnikov smo dodatno ponazorili s tremi študijami primerov (NLB Skupina, Raiffeisen Bank International, Credit Suisse), ki so pokazale, da lahko podobno gibanje količnikov v ozadju skriva zelo različne mehanizme, od namenske kapitalizacije banke do mehanskega učinka skrčenja tveganju prilagojene aktive, in da lahko banka regulativne zahteve na papirju izpolnjuje tudi tik pred svojim propadom. Ugotovitve kažejo, da kapitalska ustreznost ostaja pomemben in statistično robusten dejavnik obsega bančnega kreditiranja v Evropski uniji, kar je pomembno sporočilo za snovalce bančne regulative in nosilce ekonomske politike pri tehtanju med koristmi večje finančne stabilnosti in tveganjem omejevanja kreditne aktivnosti gospodarstva.
Keywords:	CRR III, CRD VI, Baselski standardi, obseg kreditiranja, kapitalska ustreznost, panelna regresijska analiza.
Place of publishing:	Maribor
Publisher:	L. Trojner Horvat]
Year of publishing:	2026
PID:	20.500.12556/DKUM-99708
UDC:	336.71:336.77
COBISS.SI-ID:	292407555
Publication date in DKUM:	24.09.2026
Views:	97
Downloads:	7
Metadata:
Categories:	EPF
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Licences

License:	CC BY-NC-ND 4.0, Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International

Link:	http://creativecommons.org/licenses/by-nc-nd/4.0/
Description:	The most restrictive Creative Commons license. This only allows people to download and share the work for no commercial gain and for no other purposes.
Licensing start date:	24.08.2026

Secondary language

Language:	English
Title:	CRR III / CRD VI regulation and directive for the capital adequacy of banks and the volume of lending in EU countries
Abstract:	Bank capital adequacy is one of the fundamental pillars of financial stability. Banks influence economic activity directly through lending to households and firms. After the global financial crisis, international regulators tightened capital requirements for banks in order to increase their resilience to future financial shocks. The European Union transposed the latest generation of Basel standards through Regulation (EU) 2024/1623 (CRR III) and Directive (EU) 2024/1619 (CRD VI). These bring mainly the introduction of the output floor for calculating risk-weighted assets, a new method for measuring operational risk, and strengthened requirements in the area of environmental, social, and governance factors. Despite this clear regulatory purpose, it remains an open question whether stricter capital requirements narrow the supply of credit to the economy. Due to tax, informational, and other market imperfections, banks often treat capital as a more expensive source of financing than debt. This departs from the theoretical assumption of capital structure neutrality. In the empirical part, we used a panel regression model on a sample of 21 European Union countries between 2015 and 2024 to analyse the impact of banking-sector capital adequacy and selected macroeconomic factors, among others, housing market developments, disposable income, inflation, and population size on the volume of credit, expressed as a share of gross domestic product. We found a statistically significant and robust negative relationship between the average Tier 1 capital ratio and credit volume. Among the remaining explanatory variables, only population size proved to be robustly significant. We further illustrated the movement of capital ratios through three case studies (NLB Group, Raiffeisen Bank International, Credit Suisse). These showed that similar movements in capital ratios can hide very different underlying mechanisms. From deliberate bank capitalisation to the mechanical effect of shrinking risk-weighted assets, and that a bank can meet regulatory requirements on paper even shortly before its collapse. The findings show that capital adequacy remains an important and statistically robust determinant of bank credit volume in the European Union. This is an important message for banking regulators and policymakers, who must weigh the benefits of greater financial stability against the risk of restricting credit activity in the economy.
Keywords:	CRR III, CRD VI, Basel standards, lending volume, capital adequacy, panel regression analysis.

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