En vurdering af om særligt den indførte danske regulering, har håndteret visse af de væsentligste årsager til krisen, der ramte de danske kreditinstitutter i perioden 2008-2013

Oliver Sjølin

Student thesis: Master thesis


The thesis is based on the findings of the so-called Rangvid-report concerning the global financial crisis and in particular the Danish financial crisis. The thesis concludes, that a number of bank’s during crisis seized to exit as a result of large growth in lending, risk-concentrations to large exposures and risk concentrations in lending to commercial real estate, during the boom years of the 00’s. Furthermore, the thesis concludes that one of the largest mortgage credit institutions, namely BRFkredit, were in financial difficulties, also due to rapid growth in lending and in particular, growth in lending to commercial real estate. The thesis finds, that there are significant risks in connection with granting to credit to commercial real estate, and that these risks are not concretely described in the regulation that was implemented in the aftermath of the crisis. The thesis finds this to be a paradox, seeing as the regulation pertaining to retail clients, which is not assessed be a significant cause of the crisis, has been thoroughly and very concretely regulated. However, the thesis does not conclude, that there is an unambiguous need for further regulation concerning lending to commercial real estate. The thesis does however conclude, that the smallest banks still are poor at analyzing the risks pertaining to lending to commercial real estate. Also, the thesis finds that the need for further regulation concerning commercial real estate for Systemically Important Financial Institutions seems less clear, but that this however, has to be balanced with these institutions importance to the Danish financial stability. Finally, the thesis concludes, that the Danish Financial Supervisory Authority, through publicly disclosed reports in recent years, has challenged institutions, which have had weaknesses in their business model, on this.

EducationsMSc in Finance and Accounting, (Graduate Programme) Final Thesis
Publication date2015
Number of pages92