Financial Intermediation in Europe

Business & Finance, Economics, Macroeconomics, Finance & Investing, Finance
Cover of the book Financial Intermediation in Europe by Luke Drago Spajic, Springer US
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Luke Drago Spajic ISBN: 9781461510130
Publisher: Springer US Publication: December 6, 2012
Imprint: Springer Language: English
Author: Luke Drago Spajic
ISBN: 9781461510130
Publisher: Springer US
Publication: December 6, 2012
Imprint: Springer
Language: English

Two items were firmly on the European economic agenda in the 1990s: financial market integration and the creation of a common or single currency. The former was supposed to have been achieved in 1992 (via the Single Market Act, with some derogations), and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. 1.1 Financial & Monetary Integration in Europe Up until the mid-1980s, European financial intermediation was, as else­ where 'on shore' in the post-war period, broadly characterised by a relatively high degree of diverse regulatory control and with cross-border restrictions (e.g., in the form of exchange controls). This resulted in the administration of interest rates and pegging of prime market yields, as well as restrictions on intermediary specialisation. Hence, it was easy to understand why price c ,etition was hardly ever seen. Within this kind of environment, banks and other financial intermediaries (OFIs) competed mainly on non-price terms - for example, through the expansion of branch networks. The Single Market Programme (SMP),l launched in 1986, was in a com­ plex way intended to level out and open up the domestic markets of the European Union (EU) to competition from entities in other Member States.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Two items were firmly on the European economic agenda in the 1990s: financial market integration and the creation of a common or single currency. The former was supposed to have been achieved in 1992 (via the Single Market Act, with some derogations), and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. 1.1 Financial & Monetary Integration in Europe Up until the mid-1980s, European financial intermediation was, as else­ where 'on shore' in the post-war period, broadly characterised by a relatively high degree of diverse regulatory control and with cross-border restrictions (e.g., in the form of exchange controls). This resulted in the administration of interest rates and pegging of prime market yields, as well as restrictions on intermediary specialisation. Hence, it was easy to understand why price c ,etition was hardly ever seen. Within this kind of environment, banks and other financial intermediaries (OFIs) competed mainly on non-price terms - for example, through the expansion of branch networks. The Single Market Programme (SMP),l launched in 1986, was in a com­ plex way intended to level out and open up the domestic markets of the European Union (EU) to competition from entities in other Member States.

More books from Springer US

Cover of the book Brain Injury and Recovery by Luke Drago Spajic
Cover of the book The Individual Subject and Scientific Psychology by Luke Drago Spajic
Cover of the book Cardiac Cellular Electrophysiology by Luke Drago Spajic
Cover of the book Recent Developments in High Pressure Processing of Foods by Luke Drago Spajic
Cover of the book The Right Ventricle by Luke Drago Spajic
Cover of the book The Respiratory Functions of Blood by Luke Drago Spajic
Cover of the book Cardiac Development by Luke Drago Spajic
Cover of the book Nonlinear Filtering and Optimal Phase Tracking by Luke Drago Spajic
Cover of the book Calculus Renewal by Luke Drago Spajic
Cover of the book Sports Injuries of the Foot by Luke Drago Spajic
Cover of the book Hormonal Correlates of Behavior by Luke Drago Spajic
Cover of the book Women, Work, and Health by Luke Drago Spajic
Cover of the book Traffic and QoS Management in Wireless Multimedia Networks by Luke Drago Spajic
Cover of the book Updates in Emergency Medicine by Luke Drago Spajic
Cover of the book Wireless Sensor Networks by Luke Drago Spajic
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy