Abstract The deregulation of financial services in the European Union (EU), together with the establishment of the Economic and Monetary Union, aimed at the creation of a level playing-field in the provision of banking services across the EU. The plan was to remove entry barriers and to foster both competition and efficiency in national banking markets.
However, one of the effects of the regulatory changes was to spur a trend towards consolidation, resulting in the recent wave of mergers and acquisitions. To investigate the impact of increased consolidation on the competitive conditions of the EU banking markets, we employ both structural (concentration ratios) and non-structural (Panzar–Rosse statistic) concentration measures. Using bank-level balance sheet data for the major EU banking markets, in a period following the introduction of the Single Banking Licence (1997–2003), this paper also investigates the factors that may influence the competitive conditions. Specifically, we control for differences in efficiency estimates, structural conditions and institutional characteristics. The results seem to suggest that the degree of concentration is not necessarily related to the degree of competition.
We also find little evidence that more efficient banking systems are also more competitive. The relationship between competition and efficiency is not a straightforward one: increased competition has forced banks to become more efficient but increased efficiency does not seem to be fostering more competitive EU banking systems. 1 Tai-Hsin Huang, Dien-Lin Chiang, Shih-Wei Chao, A new approach to jointly estimating the Lerner index and cost efficiency for multi-output banks under a stochastic meta-frontier framework, The Quarterly Review of Economics and Finance, 2017, 65, 212. 2 Mark A. Roberts, A non-monotonic relationship between public debt and economic growth: the effect of financial monopsony, The B.E.
Many of us share a fairly basic view of banks. They are places to store money, make basic investments like, sign up for a or get a loan. Behind this mundane view, however, is a highly regulated system that ties our day-to-day banking back into the wider.
In this article, we’ll look at commercial banks, how they are created and what their larger purpose is in the overall economy. When is a Bank a Commercial Bank? Between 1933 and 1999, it was fairly easy to tell banks apart thanks to the. If you helped companies issue shares, you were an. If you were primarily concerned with deposits and lending, then you were a commercial bank. From the late 1990s onward, however, the ability to enforce Glass-Steagall as a black-and-white rule eroded, and.
Since then, the old distinction between a commercial bank and an investment bank is essentially meaningless. For example, as of 2013, JPMorgan Chase Bank is among the largest commercial banks in the U.S. By assets and, in 2012, the same bank was one of the in the Facebook IPO. For better or worse, we’ve lost the issuance of securities and active investment in securities as defining actions that a commercial bank cannot take. Instead, we can look at the actions all commercial banks share.
Commercial banks:. Accept deposits. Lend money. Process payments. Issue and checks. Offer safety deposit boxes for items and documents There are more actions, of course, and finer categories within this broad view. Commercial banks may offer other services such as brokering insurance contracts, giving and so on.
They also provide a wide variety of loans and offer other credit vehicles like cards and. However, the common theme among these activities is that they are aimed at providing a financial service to an individual or business. From Zero to Operational in Two Years or Less To understand commercial banking, it is worth looking at how they are established. Although big banks like JPMorgan Chase, and Citibank are well-known and global in scope, there are thousands of commercial banks in the United States alone. Despite the seemingly large number, starting and operating a commercial bank is a long process due to the regulatory steps and capital needs.
Rules vary by state, but in the U.S. An organizing group begins the process by securing several million dollars in. This capital is used to bring together a management team with experience in the banking industry as well as a board.
Once the board and management are set, a location is selected and the overall vision for the bank is created. The organizing group then sends its plan, along with information on the board and management, to regulators who review it and decide if the bank can be granted a charter. The review costs thousands of dollars, and the plan may be sent back with recommendations that need to be addressed for approval. If the charter is granted, the bank must be operational within a year. In the next 12 months, the organizers must get their paid, secure staff, buy equipment and so on, as well as go through two more regulatory inspections before the doors can open. This timing on the entire process can vary, but including preparation before the first filing to regulators it is measured in years, not months.
To get to the stage where a bank can make money by leveraging deposited dollars as consumer loans, there needs to be millions in capital, some of which can be raised in private circles and paid back through an eventual public share offering. In theory, a charter bank can be 100% privately funded, but most banks go public because the shares become liquid, making it easier to pay out investors. Consequently, having an IPO in the original plan makes it easier to attract early-stage investors as well. Commercial Banks and the Big Picture The process of launching a commercial bank foreshadows the overall role that these banks play in the economy. A commercial bank is basically a collection of investment capital in search of a good return. The bank – the building, people, processes and services – is a mechanism for drawing in more capital and allocating in a way that the management and board believe will offer the best return.
By allocating capital efficiently, the bank will be more profitable and the will increase. From this view, a bank provides a service to the consumer mentioned earlier. But it also provides a service to investors by acting as a filter.for who gets allocated how much capital. Banks that do both jobs will go on to be successes.
Banks that don’t do one or either of these jobs may eventually fail. In the case of failure, protects depositors and sees that the bank's assets end up in the hands of a more successful bank. Bottom Line Most of us interact with commercial banks every day, whether it is a purchase, an online payment or a loan application. Beyond providing these basic services, commercial banks are in the business of for profit – also known as investing. In the commercial banking definition of investing, this means making loans and extending credit to people who can pay it back on the bank’s terms. Today, commercial banks can invest in securities and even in issues that they help make public.
But these activities are usually relegated to an investment arm – basically a traditional investment bank couched in a commercial bank. At the end of the day, a commercial bank needs to provide good service to its customers and good returns to its investors to continue to be successful.
Many of us share a fairly basic view of banks. They are places to store money, make basic investments like, sign up for a or get a loan. Behind this mundane view, however, is a highly regulated system that ties our day-to-day banking back into the wider.
In this article, we’ll look at commercial banks, how they are created and what their larger purpose is in the overall economy. When is a Bank a Commercial Bank?
Between 1933 and 1999, it was fairly easy to tell banks apart thanks to the. If you helped companies issue shares, you were an. If you were primarily concerned with deposits and lending, then you were a commercial bank. From the late 1990s onward, however, the ability to enforce Glass-Steagall as a black-and-white rule eroded, and.
Since then, the old distinction between a commercial bank and an investment bank is essentially meaningless. For example, as of 2013, JPMorgan Chase Bank is among the largest commercial banks in the U.S. By assets and, in 2012, the same bank was one of the in the Facebook IPO. For better or worse, we’ve lost the issuance of securities and active investment in securities as defining actions that a commercial bank cannot take. Instead, we can look at the actions all commercial banks share. Commercial banks:. Accept deposits.
Lend money. Process payments. Issue and checks. Offer safety deposit boxes for items and documents There are more actions, of course, and finer categories within this broad view. Commercial banks may offer other services such as brokering insurance contracts, giving and so on. They also provide a wide variety of loans and offer other credit vehicles like cards and.
However, the common theme among these activities is that they are aimed at providing a financial service to an individual or business. From Zero to Operational in Two Years or Less To understand commercial banking, it is worth looking at how they are established.
Although big banks like JPMorgan Chase, and Citibank are well-known and global in scope, there are thousands of commercial banks in the United States alone. Despite the seemingly large number, starting and operating a commercial bank is a long process due to the regulatory steps and capital needs. Rules vary by state, but in the U.S.
An organizing group begins the process by securing several million dollars in. This capital is used to bring together a management team with experience in the banking industry as well as a board. Once the board and management are set, a location is selected and the overall vision for the bank is created. The organizing group then sends its plan, along with information on the board and management, to regulators who review it and decide if the bank can be granted a charter. The review costs thousands of dollars, and the plan may be sent back with recommendations that need to be addressed for approval. If the charter is granted, the bank must be operational within a year.
In the next 12 months, the organizers must get their paid, secure staff, buy equipment and so on, as well as go through two more regulatory inspections before the doors can open. This timing on the entire process can vary, but including preparation before the first filing to regulators it is measured in years, not months. To get to the stage where a bank can make money by leveraging deposited dollars as consumer loans, there needs to be millions in capital, some of which can be raised in private circles and paid back through an eventual public share offering. In theory, a charter bank can be 100% privately funded, but most banks go public because the shares become liquid, making it easier to pay out investors. Consequently, having an IPO in the original plan makes it easier to attract early-stage investors as well. Commercial Banks and the Big Picture The process of launching a commercial bank foreshadows the overall role that these banks play in the economy.
A commercial bank is basically a collection of investment capital in search of a good return. The bank – the building, people, processes and services – is a mechanism for drawing in more capital and allocating in a way that the management and board believe will offer the best return. By allocating capital efficiently, the bank will be more profitable and the will increase.
From this view, a bank provides a service to the consumer mentioned earlier. But it also provides a service to investors by acting as a filter.for who gets allocated how much capital. Banks that do both jobs will go on to be successes. Banks that don’t do one or either of these jobs may eventually fail. In the case of failure, protects depositors and sees that the bank's assets end up in the hands of a more successful bank.
Bottom Line Most of us interact with commercial banks every day, whether it is a purchase, an online payment or a loan application. Beyond providing these basic services, commercial banks are in the business of for profit – also known as investing. In the commercial banking definition of investing, this means making loans and extending credit to people who can pay it back on the bank’s terms. Today, commercial banks can invest in securities and even in issues that they help make public. But these activities are usually relegated to an investment arm – basically a traditional investment bank couched in a commercial bank. At the end of the day, a commercial bank needs to provide good service to its customers and good returns to its investors to continue to be successful.
This work is protected by local and international copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the World Wide Web) will destroy the integrity of the work and is not permitted. The work and materials from this site should never be made available to students except by instructors using the accompanying text in their classes. All recipients of this work are expected to abide by these restrictions and to honor the intended pedagogical purposes and the needs of other instructors who rely on these materials. Introduction to Banking 2nd edn, 2/E Barbara Casu, Director of the Centre for Banking Research at Cass Business School, City University London, where she is Associate Professor of Banking.
Claudia Girardone, Professor of Banking and Finance at the Essex Business School, University of Essex, UK Philip Molyneux, Professor of Banking and Finance and Dean of the College of Business, Law, Education and Social Science at Bangor University, North Wales, UK. ProductFormatCode=P01 productCategory=2 statusCode=25 isBuyable=true subType= path/ProductBean/courseSmarttrue ISBN-10:. ISBN-13: 17273776567 ©2015. Pearson. Paper, 816 pp Published 26 Mar 2015.
Reprinting - Limited Stock. Add to basket to check current availability. Our price: £50.99. Net price: £0.00? Introduction to Banking 2nd Edition is a thoroughly revised edition of the book first published in 2006. It offers a comprehensive insight into the business of banking, providing up-to-date information about the impact of the financial crisis upon the banking sector globally and the far-reaching regulatory reforms. Written by expert authors, this book covers both theoretical and applied issues relating to the global banking industry, highlighted by examples from across Europe and the wider international arena. It is organised into five main sections including a brand new section - advanced topics in banking.
Table of Contents List of figures List of tables List of boxes Preface Acknowledgements List of abbreviations and acronyms Part 1 Introduction to banking Chapter 1 What is special about banks? Reviews I truly welcome this thoroughly revised edition of the Introduction to Banking textbook. Its authors are world-class scholars who on a daily basis research a wide array of highly relevant banking topics and maintain many close contacts with the commercial and central banking community. I can see no better guides to lead undergraduates into the fascinating (and at times bewildering) banking landscape.
Steven Ongena, Professor of Banking, University of Zurich, Swiss Finance Institute and CEPR I heartily endorse Introduction to Banking 2nd Edition, which thoroughly covers the topic of banking in the post-crisis world. Unlike other textbooks which are very US-centric, this is a global banking book which covers issues and institutions on a worldwide basis. Berger, the H. Montague Osteen, Jr, Professor in Banking and Finance, Moore School of Business, and Carolina Distinguished Professor, University of South Carolina; Senior Fellow at Wharton Financial Institutions Center and Fellow of the European Banking Center, Tilburg University This thoroughly revised edition of the book contains inestimable new chapters on banking crises, new financial instruments and a wide range of advanced issues.
The topics are examined with a distinguishing combination of analytical and practical approaches. This makes the book an invaluable instrument for teaching banking to undergraduates both at universities and business schools. I highly recommend it. Elena Carletti, Professor of Finance, Bocconi University, IGIER and CEPR.
Backcover Copy 'I truly welcome this thoroughly revised edition of the Introduction to Banking textbook. Its authors are world-class scholars who on a daily basis research a wide array of highly relevant banking topics and maintain many close contacts with the commercial and central banking community. I can see no better guides to lead undergraduates into the fascinating (and at times bewildering) banking landscape.' Steven Ongena, Professor of Banking, University of Zurich, Swiss Finance Institute and CEPR 'I heartily endorse Introduction to Banking 2nd Edition, which thoroughly covers the topic of banking in the post-crisis world. Unlike other textbooks which are very US-centric, this is a global banking book which covers issues and institutions on a worldwide basis.'
Montague Osteen, Jr., Professor in Banking and Finance, Moore School of Business, and Carolina Distinguished Professor, University of South Carolina; Senior Fellow at Wharton Financial Institutions Center and Fellow of the European Banking Center, Tilburg University. Simon Thompson, Chief Executive, Chartered Banker Institute This thoroughly revised edition of the book contains inestimable new chapters on banking crises, new financial instruments and a wide range of advanced issues. The topics are examined with a distinguishing combination of analytical and practical approaches. This makes the book an invaluable instrument for teaching banking to undergraduates both at universities and business schools. I highly recommend it. Elena Carletti, Professor of Finance, Bocconi University, IGIER and CEPR Introduction to Banking 2nd Edition offers a comprehensive insight into the business of banking, providing up-to-date information about the impact of the financial crisis upon the banking sector globally and the far-reaching regulatory reforms. Written by expert authors, this book covers both theoretical and applied issues relating to the global banking industry, highlighted by examples from across Europe and the wider international arena. Organised into five main sections, this edition includes a brand new section - advanced topics in banking.
The new edition. Familiarises students with the recent trends affecting the banking business. Covers contemporary central banking and bank regulation issues comparing the UK, eurozone and the US, providing students with the most up-to-date information on banking practice. Provides a strong focus on bank management issues and prepares students to understand the different financial features of commercial and investment banking business. Outlines recent changes in developed and developing countries' banking and financial systems, familiarising students with different types of banking systems and how global trends impact on different types of banking markets. Covers advanced topics in banking, from the growth of the 'shadow banking system' to bank mergers and acquisition activities, and issues and challenges surrounding the industrial structure of modern banking markets. Suitable for all undergraduate students taking a course in banking as well as professionals entering the banking industry. It also provides solid background reading for postgraduate students who, in this updated edition, can benefit from three new chapters exploring more advanced topics in banking.
Barbara Casu is the Director of the Centre for Banking Research at Cass Business School, City University London, where she is Associate Professor of Banking. Her research interests are in the area of banking, financial regulation, corporate governance and industrial organisation.
Barbara has published over 30 papers in international peer-reviewed journals, including The Review of Economics and Statistics and the Journal of Money, Credit and Banking. Claudia Girardone is Professor of Banking and Finance at the Essex Business School, University of Essex, UK.
Her current research focus is on banking sector performance and efficiency, bank corporate governance and the industrial structure of banking. She has published widely in the banking and financial services area and is currently on the editorial board of several journals including the Journal of Banking & Finance and The European Journal of Finance.
Philip Molyneux is currently Professor of Banking and Finance and Dean of the College of Business, Law, Education and Social Science at Bangor University, North Wales, UK. He has published widely in the banking and financial services area, including articles in the Journal of Banking & Finance, Review of Finance and European Economic Review. Downloadable Instructor Resources. Introduction to Banking PowerPoints on the Web, 2/E Casu, Girardone & Molyneux ISBN-10:.
ISBN-13: 154 ©2015. Online, 336 pp. Live isFirstMoreInfoLinkRendered=false isSecondMoreInfoLinkRendered=false caseVariable=true chkOnlineProduct=true chkCategoryInList=false chkCategoryNotInList=true answerBookRest= path/ProductBean/statusCode=25 productCategory=16 path/ProductBean/uopsTitleStatCd= productPrice= tabId=IR isBuyable=false /Properties/Data/Result/PearsonRoot/ProductBean/sourceCode=UK. (0.5MB).
Granger Causality
(4.5MB). (3.8MB). (4.9MB).
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