The third article reviews the main factors behind financial developments in central , eastern and south eastern Europe .

Current accounts of the euro area financial sector

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Encouragingly , over the past few years , significant progress has been made in terms of financial sector restructuring and consolidation . The banking sector has been strengthened by means of large scale privatisation of state owned banks and an extensive opening up to foreign ownership .

From the ECB 's point of view , strengthening the financial sector is important for two main reasons .

Current accounts of the euro area financial sector

These results suggest that there is further scope for structural reforms of financial sectors in the euro area and that it is beneficial to look at financial integration as well as at financial development .

They also provide the bulk of refinancing to the financial sector .

ECB Opinion on Dutch financial sector supervision

The ESAs and approximation of laws in the financial sector 2 .

Most important, the culture of the financial sector needs to change.

Overall , developments in debt financing of nonfinancial corporations have led to a broadly stable debt to GDP ratio of the sector in recent years ( see Chart A in Box 3 ) . By contrast with the relatively robust growth of debt financing , the annual growth rate of quoted shares issued by non financial corporations remained subdued in 2003 .

He argues (in a speech revealingly entitled The Contribution of the Financial Sector Miracle or Mirage? ) that the financial sector s reported contribution to GDP has been significantly overrated.

Reverse transactions adjusting the structural position of the Eurosystem vis àvis the financial sector

Reverse transactions adjusting the structural position of the Eurosystem vis à vis the financial sector

As of 2003 , a greater involvement of judiciary authorities is observed , while as of 2004 and 2005 , there is a more pronounced participation of the financial sector ( public sector financial intermediaries , National Central Banks , commercial banking and other financial institutions ) .

It is therefore critical that we complete the agenda on financial sector reform.

Government finance statistics form an important part of the integrated system of sectoral non financial and financial accounts for the euro area .

Moreover, measures taken during the crisis may have helped to mitigate financial contagion, but some do not support robust long term development of the sector.

Reverse transactions aiming at adjusting the structural position of the Eurosystem vis à vis the financial sector

Tensions have increasingly spilled over from the financial sector into the real economy .

a mixed financial holding company shall be treated according to the sectoral rules of the most important financial sector in the financial conglomerate .

Given that the formal banking sector provides a large share of shadow banking finance, this could initiate a chain reaction affecting the entire financial sector.

This process has led to greater integration with the EU , due to a significant involvement of banks from EU countries , and has increased efficiency significantly .

The financial sector in the accession countries is largely dominated by the banking sector .

Where a financial conglomerate is headed by a mixed financial holding company , the sectoral rules regarding intra group transactions and risk concentration of the largest financial sector in the financial conglomerate shall apply to that sector as a whole , including the mixed financial holding company .

Continued close monitoring of the financial sector will be important in the period ahead .

They argue that rapid financial sector growth reduces productivity growth in other sectors.

More than 80 percent of Ivory Coast's development went into the modern sector.

ECB Opinion on Luxemburgish legislation relating to the modernisation of the financial sector and to the statutory pension scheme

China s Online Financial Sector Comes of Age

In a few cases , the agreements also include specific clauses with regard to the financial sector .

With the usual drivers of GDP growth constrained across Europe, the one economic sector able to spend is the non financial corporate sector.

However , the transformation of the financial systems is far from complete , as the degree of financial intermediation remains rather low .

And legislation will soon create the opportunity for expanded foreign ownership in the financial sector.

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Developing Economies Long Term Financing Shortfall

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6. Encourages Governments to strengthen and foster investment in research and development for environmentally sound technologies and to promote the involvement of the business and financial sectors in the development of those technologies, and invites the international community to support those efforts

The IMF and the World Bank continued to implement their joint Financial Sector Assessment Programme ( FSAP ) , whereby financial sectors in individual IMF member countries are assessed and potential vulnerabilities are identified .

But there are two sectors in which no compensation is needed energy and finance.