Identifying supply and demand in the Hungarian corporate loan market

During the recent crisis bank lending to the non-financial corporate sector declined substantially in Hungary and this slump proceeds in the aftermath of the recession as well. However it is not evident whether it is a result of the slow recovery of the real economy (the lack of credit demand), or it is caused by the balance sheet adjustment of financial intermediaries, that is tight credit supply is prevalent. In this paper we identify supply and demand in the corporate loan market in Hungary and decompose the developments of lending to supply and demand factors. Doing this a simultaneous econometric model is estimated on a panel dataset, which covers the major banks in the industry. The model takes into account the results of the Bank Lending Survey of MNB, which provides some information about lending standards and banks’ willingness to lend. Our results suggest that tight supply conditions have played an important role in the decline of lending, especially after the outbreak of the crisis. At the same time, demand has been contracted as well during the recession, although it has started to recover in 2010. At the end of 2010 we may conclude that the decline in supply and demand accounted for the drop in corporate lending in a ratio of around 2/3-1/3, respectively.corporate lending, credit supply, bank lending survey

Changing of the spatial development means and institution in hungary after the change of regime

Before 1990, regional development policy as a governmental function was of secondary importance. Although economic planning, control and management were based on sectoral principles, regional processes contributed towards an equilibrium in the sense that differences in social-economic development were decreasing among the various regions. This apparent contradiction is attributable to Hungary’s economic structure. Before 1990, due to the lack of market and competition, the economic system basically gave support to and protected weaker regions at the expense of the strong ones. These tendencies hindered the dynamism of the economy while leading to the mitigation of regional imbalances. In the first half of the 1990s, spatial development activity in Hungary was of transitory nature. Partly because of the untested practice of spatial development management, institutions and mechanism, and partly because of the absence of a medium-level authority with appropriate powers, the issues that required intervention had to be handled by means of direct governmental instruments. The insufficiency of the available instruments, however, hindered the efficiency of individual interventions. The process of economic recession highlighted the need to create new spatial development instruments in order to manage growing regional disparities, the problems of depressed regions affected by serious social and economic crisis. The clearly unfavourable regional trends created the need for establishing a more pronounced regional policy with a new institutional system, decentralisation of decision-making, co-ordination of resources. Its basis was laid down in Act XXI of 1996 on Spatial Development and Planning. The law specifies the tasks and identifies the instruments and institutions of spatial development and planning. With the adoption of the Act, Hungary was the first among the accession countries to create a legal framework in conformity with EU spatial development requirements. A review of spatial processes and measures indicates that in the 1990s spatial development policy established its new network of instruments and institutions, primarily with a view to mitigating spatial disparities and it focused, in particular, on underdeveloped and depressed regions. Although this policy could reduce the unfavourable effects of market-based spatial differences in the economy, it could prevent new excessive depressed (crisis-ridden) regions from surfacing, nevertheless it failed to put a halt to these trends.

Copper(II) Complexes of Amino Acids and Peptides Containing Chelating bis(imidazolyl) Residues

Copper(II) complexes of amino acids and peptides containing the chelating bis(imidazolyl) residues have been reviewed. The results reveal that bis(imidazolyl) analogues of these biomolecules are very effective ligands for metal binding. The nitrogen donor atoms of the chelating agent are the major metal binding sites under acidic conditions. In the presence of terminal amino group the multidentate character of the ligands results in the formation of various polynuclear complexes including the ligand and the imidazole bridged dimeric species. The most intriguing feature of the coordination chemistry of these ligands is that the deprotonation of the coordinated imidazole-N(1)H groups results in the appearance of a new chelating site in the molecules. It leads to the formation of stable trinuclear complexes via negatively charged imidazolato bridges

Vanadium(III) binding strengths of small biomolecules

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Copper(II), nickel(II) and zinc(II) complexes of hexapeptides containing separate aspartyl and histidyl residues

Copper(II), nickel(II) and zinc(II) complexes of two N-terminally free and C-terminally blocked hexapeptides, NH2-ADAAAH-NH2 and NH2-AADAAH-NH2, containing separate aspartyl and histidyl residues have been studied by potentiometric, UV-Vis, CD and ESR spectroscopic methods. The amino termini were found as the primary anchoring sites of both ligands for the complexation with all three metal ions. The β-carboxylate function of the second or third aspartyl residue enhances the thermodynamic stability of the copper(II) and nickel(II) complexes and shifts the deprotonation of the subsequent amide functions into a more alkaline pH range. In the case of NH2-AADAAH-NH2 the imidazole-N donor of the histidyl residue does not have a significant contribution to the overall stability of the mononuclear complexes. The side chain imidazole, however, can be an independent metal binding site resulting in the formation of dinuclear or even mixed metal complexes. The stabilizing role of the histidyl residue is much more pronounced in the complexes of the NH2-ADAAAH-NH2 peptide. In this case a tridentately (NH2,N-,β-COO-)-coordinated species is formed and its stability is significantly enhanced by the macrochelation of the side chain imidazole. The presence of two anchoring sites (terminal amino and side chain imidazole) in one molecule enhances the stability of the corresponding zinc(II) complexes, too, but the amide nitrogens are not involved in metal binding in this case

Binary and ternary mixed metal complexes of terminally free peptides containing two different histidyl binding sites

Copper(II), nickel(II) and zinc(II) complexes of the terminally free peptides AHAAAHG and AAHAAAHG have been studied by combined applications of potentiometric and various spectroscopic techniques, including UV-visible, CD and EPR for copper(II) and UV-visible, CD and NMR for nickel(II). It was found that the octapeptide AAHAAAHG can easily bind two equivalents of copper(II) or nickel(II) ions and the amino terminus was identified as the primary ligating site of the molecule. On the other hand, this peptide has a relatively low zinc(II) binding affinity. Mono- and di-nuclear copper(II) and nickel(II) complexes were also formed with the heptapeptide AHAAAHG but this peptide can effectively bind one equivalent of zinc(II) ions, too, with the involvement of the deprotonated amide nitrogen in zinc(II) binding. The enhanced stability of the [MH-1L] species of AHAAAHG was explained by the tridentate (NH2,N-,Nim) coordination of the amino terminus supported by the macrochelation of the internal histidyl residue. Mixed metal copper(II)-nickel(II) complexes were also formed with both peptides and copper(II) ions were coordinated to the amino terminal, while nickel(II) ions to the internal histidyl sites. © 2013 Elsevier Inc