Assessment of development of the credit market infrastructure

Анотація

This article examines the infrastructure of the credit market using the example of the European Union market. It was determined and argued that the level of infrastructure development is a determining factor in the effectiveness of the credit market. The types of infrastructure entities of the EU credit market have been identified. Their role in ensuring the stable functioning of the market is assessed. It was determined that Germany has the largest number of credit institutions within the EU credit market. It was analyzed and found that the level of competition in the credit market of this country is also the highest. It is noted that the number of credit institutions in other EU countries is several times smaller than the identical figure in Germany. The total spread of values is almost 9000%. It was determined that according to the indicator of the total number of credit market institutions, Ukraine occupies a leading position. By comparing the data, it was determined that Germany (23% of the total EU market) and France (22% of the total EU market) have the largest shares in terms of assets of non-bank credit institutions, while the smallest share is in Estonia, Bulgaria and Hungary. On the basis of statistical data, the concentration coefficients of banking institutions of the European Union and Ukraine were calculated by the size of assets, and a comparison was made. The necessary indicators and statistical data are systematized and depicted graphically. It has been calculated and proven that, in general, the concentration coefficients CR3, CR5, CR10 for the banking infrastructure in Ukraine are higher than the average for the EU market: the 10 largest banks of Ukraine account for more than 90% of the market. It is noted that in the conditions of the crisis (lockdown in 2020, war in 2022), the level of concentration in the credit market of Ukraine increases and decreases to a small extent when the country's economy revives. The advantages and disadvantages of the growing concentration of the credit market are defined and specified. Taking into account the obtained values of the concentration coefficients, a conclusion was made about the need for further improvement of the credit policy in Ukraine, in particular in terms of improving the functioning of the financial infrastructure.

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