Vienna Initiative

The Vienna Initiative was launched in January 2009. Its initial aim was to ensure financial stability in emerging Europe, addressing the outflow of capital from local subsidiaries of large cross-border banks in central and south-eastern Europe. It later shifted its focus to the challenges of reducing non-performing loans and monitoring deleveraging, credit and bank lending.

The private-public dialogue under the Vienna Initiative has contributed to the stability of the banking sectors of central and eastern Europe. Close coordination through the Vienna Initiative is particularly valuable at a time of heightened economic and financial uncertainty.

The international financial institutions involved in the Vienna Initiative publish regular market analyses, including twice-yearly Non-Performing Loan Monitors prepared by the EBRD. The IMF publishes the six-monthly Deleveraging and Credit Monitor, while the EIB publishes the Bank Lending Survey.