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 Identifying Relevant Information for Testing Technique Selection by Luke Drago Spajic
Cover of the book Immunopharmacology by Luke Drago Spajic
Cover of the book Scalable Techniques for Formal Verification by Luke Drago Spajic
Cover of the book This Is Reading by Luke Drago Spajic
Cover of the book Experimental Methods in Neuropsychology by Luke Drago Spajic
Cover of the book Computer Graphics by Luke Drago Spajic
Cover of the book Public Policy Analysis by Luke Drago Spajic
Cover of the book The Saudi Arabian Economy by Luke Drago Spajic
Cover of the book Biological Effects of Magnetic Fields by Luke Drago Spajic
Cover of the book Management of Gastric Cancer by Luke Drago Spajic
Cover of the book Advances in Parapsychological Research by Luke Drago Spajic
Cover of the book Paediatric Respiratory Care by Luke Drago Spajic
Cover of the book The Exploitation of Plant Resources in Ancient Africa by Luke Drago Spajic
Cover of the book Architecture and Design of Distributed Embedded Systems by Luke Drago Spajic
Cover of the book High-Speed Communication 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