Bank lending activity in Croatia compared to movements in Euro area

Svojim djelovanjem banke doprinose stabilnosti i razvoju gospodarstva, a ujedno mogu biti izvor krize i nestabilnosti. Svjetska financijska kriza utjecala je na kontrakciju kreditne aktivnosti. U takvim okolnostima banke mijenjaju svoju averziju prema riziku, te dolazi do izražaja njihova prociklična priroda djelovanja. Uz smanjenu ponudu, dolazi i do problema na strani potražnje za kreditima. U uvjetima male, otvorene i visoko eurizirane zemlje, učinci mjera monetarne politike biti će znatno ograničeni. S druge pak strane, područje eurozone se osim sa procikličnosti prirode poslovanja banaka, suočava i sa nehomogenošću sustava i neusklađenosti poslovnih ciklusa, što dodatno otežava učinkovitosti mjera Europske centralne banke (ECB) u pokretanju kreditne aktivnosti. Kreditni ciklus moći će biti potaknut osim impulsima sa strane ponude kredita, ujedno i sa promjenom na pozitivna očekivanja sudionika na tržištu.Through its activities the banks contribute to the stability and development of the economy, and also can be a source of crisis and instability. The global financial crisis has affected the contraction of lending activity. In such circumstances, banks change their aversion to risk and their pro-cyclical nature of the activity reveal. With reduced supply, there is also the problem on the demand side of the loans. In terms of small, open and highly euroised country, the effects of monetary policy will be considerably limited. On the other hand, the euro area, in addition to the pro-cyclicality nature of business banks, faced with inhomogeneity of the system and non-compliance of business cycles, which further hinders the effectiveness of the European Central Bank (ECB) in enhancing of lending activity. The credit cycle will be driven not only by impulses from supply side of the loans, but also with change towards positive expectations of market participants