Training on banks and NBCOs, January 24–25

Financial stability in Kazakhstan has reached its pre-crisis level

Structural Financial Stress Index for Kazakhstan

ACRA SFSI KZ measures financial stability of the country and assesses its vulnerability to specific risks by aggregating information regarding maturities and currency profile of assets and liabilities of economic agents (financial companies, non-financial companies, population and state)

In early 2018, the Structural Financial Stress Index for Kazakhstan (ACRA SFSI KZ) continued sliding1 and reached 0.52 pts by the end of 1Q2018, which is much lower than the previous values of ACRA SFSI KZ (Fig. 1).2 It indicates a growth of stability in the national financial system. The index is very close to its pre-crisis level: in 2010–2013, its value was equal to zero. In this period, the interest rate spread and the foreign exchange rate were the lowest.

Like in many other oil-exporting countries, in Kazakhstan, the currency risk is stronger than the interest rate risk, and the level of financial system stress depends on the FX rate volatility rather than the spread of interest rates (Fig…

The full version of this document is only available after a payment.

To clarify the cost and terms of payment, please contact Maksim Ivakaev

phone: +7 (495) 139 04 80, доб. 164, email:

Log in

Forgot password

Sign up

Reset password

Reset password


Полное использование материалов сайта разрешается только с письменного согласия правообладателя, АКРА (АО). Частичное использование материалов сайта (не более 30% текста статьи) разрешается только при условии указания гиперссылки на непосредственный адрес материала на сайте . Гиперссылка должна быть размещена в подзаголовке или в первом абзаце материала. Размер шрифта гиперссылки не должен быть меньше шрифта текста используемого материала.