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European Banking Consolidation: Can a view to the past inform current policy efforts?

Author(s): Peter Hahn

Date published: Feb 2020

SUERF Policy Note, Issue No 130
by Peter Hahn, The London Institute of Banking & Finance


JEL-codes: G18, G21, G28, G38, D40, F38.
Keywords: Banks, consolidation, regulation, banking union, pan-European, bank data, supervision.

This paper begins with an overview of the historical parallels between German and US bank expansion efforts from the 1970s to date. It then moves on to examine some of the many practical and regulatory challenges for pan-European banking. It may surprise readers younger than retirement age that the lumbering large German domestic banks of today were once at the forefront of pan-European banking while the largest US international banks were restricted to territories as small as counties, with no hopes of covering even a US State, let alone the country from ocean to ocean. The paper moves on to suggest that pan-European banking will likely be a pipe dream until a vast array of current limitations, particularly idiosyncratic creditor protections, are tackled. Finally, the paper asks if the increased use of (financial) technology will be the catalyst for European (particulary German) banking to mimic the US consolidation of the late twentieth century.
 
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SUERF Policy Note, Issue No 130SUERF Policy Note, Issue No 130

European Banking Consolidation: Can a view to the past inform current policy efforts?Web version: European Banking Consolidation: Can a view to the past inform current policy efforts?

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