ULAGANJE ZVANIČNIH DEVIZNIH REZERVI U ZLATO

Zvanične devizne rezerve kod centralnih banaka se drže u više različitih formi kojemoraju biti tako izabrane da obezbijede optimalnu likvidnost zemlje prema inostranstvu, pruže punu podršku monetarnoj politici zemlje, posebno u vođenju politikedeviznog kursa, upravljanju javnim dugom i urednom izmirivanju obaveza zemljeprema inostranstvu. Politika investiranja deviznih rezervi je vrlo specifi čna u odnosuna politike investiranja ostalih privatnih i institucionalnih investitora. U radu seosvrćemo na ulaganja dijela deviznih rezervi centralnih banaka u zlato sa fokusomna politiku ulaganja u zlato Centralne banke BiH. Cilj je da se utvrdi opravdanostulaganja u zlato u situaciji kada zlato kao monetarni medij više nema značaj kaonekada

Determinants of credit growth to nonfinancial companies in B&H

Non-financial sector in B&H and the companies due to lack of its own funds for sustainable growth rely on financing its operations through bank loans. The dominant share of lending to banks in B&H is directed to the household sector while on the other hand the approval of bank loans to enterprises is on a smaller scale. Corporate sector due to underdeveloped capital markets is not able to borrow through the issuance of equity and debt securities. The main objective of this study is to determine which independent variables in the regression models have an impact on the amount of approved loans granted by banks to non-financial sector, i.e. companies. The loans growth rate will be observed as a dependent variable, and the growth rate of non-performing loans, the growth rate of operating costs, real GDP growth, consumer price index, deposit growth rate, deposit interest rate, interest rate (EURIBOR), and interest rate (LIBOR) will be used as independent variables

Determinants of the net interest margins in BH banks

In this paper, the subject of analysis is influence of certain macroeconomic and microeconomic variables on bank net interest margins in Bosnia and Herzegovina (BH) for the period from 2008 to 2013 through a multiple linear regression models. The level and dynamics of NIM indicate the efficiency of financial intermediation. The observed period is characterized by the reduction in net interest margins of banks over the previous decade, which was characterized by high GDP growth, bank loans and high-interest rates and high profitability. Therefore, this study examines the factors that affect the level of net interest margins in the domestic banking industry. The main objective of this paper is to determine whether there is interdependence in the movement between the independent and dependent variables through a multiple linear regression. The net interest margin will be observed as a dependent variable, and liquidity risk, operating costs, credit risk, the index of market concentration, funding risk, the growth rate of gross domestic product and consumer price index will be used as independent variables

FINANCIAL LITERACY AND CONDITIONS FOR ITS IMPROVEMENT

In this paper we explain the notion of financial literacy and its importance for citizens,financial institutions and society as a whole. Low level of financial literacy andinsufficiently organized institutional framework can create many problems forindividuals and financial institutions as a whole. In Bosnia and Herzegovina, a very smallnumber of people are financially literate. There is no strategy for raising the level offinancial literacy. Bosnia and Herzegovina is a country that, in relation to itssurroundings, at least strives to raise the level of financial awareness and literacy ofcitizens. If it is not possible to adopt a national strategy for raising the level of financialliteracy in B&H, it would be necessary to use the existing institutional capacity toincrease the level of literacy of all structures and groups of the population