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Vom Dreisäulensystem zum Baustein des europäischen Hauses: Wandel von Eigentum und Wettbewerb im deutschen Bankensektor

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  • Hella Engerer

Abstract

The article examines the effects of two changes of the legal and institutional framework for German banks: the modification of state liabilities for public banks and the reduction of barriers for cross-border transactions. The modification of state guarantees for public banks led to a harmonization of the basic conditions for the three pillars of the German banking sector (public bank, private banks, cooperative banks). It was expected, that the harmonization could initiate major changes in the German banking sector, e.g. a stimulus for consolidation for those Landesbanken with a difficult return of equity position or a reorganisation or merger of banks beyond pillar frontiers. This might influence the return on equity situation and the concentration ratio of the German banking sector. However, there has been no substantial reorganisation within the German banking sector (chapter 2). In addition, the current situation in the German banking sector still points to an unfavourable return on equity situation compared to other European countries (chapter 3). The concentration ratio shows that the pressure of competition in German banks is quite high compared to European competitors (chapter 4); however German banks operate under similar market conditions (monopolistic competition). Within the German banking sector the Regionalprinzip, which prohibits savings banks and cooperative banks from operating outside their local areas, reduces the pressure of competition for savings and cooperative banks compared to private banks. All in all, there are few intern attempts to change the existent pillar system. At the same time, in Germany there are few cross-border activities, in particular merger & acquisitions (chapter 5). Thus, a lack of intern reorganisation comes along with a low pressure from the outside. Der Beitrag untersucht die bisherigen Wirkungen von zwei ordnungspolitischen Veränderungen, mit denen der deutsche Bankensektor konfrontiert ist. Dabei handelt es sich zum einen um die Modifikation der Haftungsregeln für die öffentlich-rechtlichen Kreditinstitute und zum anderen um den Abbau von Hemmnissen für grenzüberschreitende Aktivitäten. Mit der Modifikation der Haftungsregeln für die öffentlich-rechtlichen Kreditinstitute waren im Sommer 2005 die rechtlichen Rahmenbedingungen für die drei Säulen des deutschen Bankensektors, d.h. öffentlichrechtliche Banken, private Kreditinstitute und Genossenschaftsbanken, einander angenähert worden. Es wurde erwartet, dass in der Folge Veränderungen im deutschen Bankensektor angestoßen werden könnten. Hierzu gehören ein potentieller Konsolidierungsschub bei Landesbanken in schwieriger Ertragslage sowie darüber hinaus säulenübergreifende Umgestaltungen bzw. Zusammenschlüsse von Banken, die letztlich Einfluss auf die Ertragslage und den Konzentrationsgrad im deutschen Bankensektor haben könnten. In Kapitel 2 wird gezeigt, dass es bislang wenige rechtlich-organisatorische Umgestaltungen gegeben hat; in Ergänzung zeigt Kapitel 3 die bestehende Situation des deutschen Bankensektors, darunter die im Vergleich zu anderen europäischen Ländern ungünstigere Ertragslage. Anhand der in Kapitel 4 vorgestellten Indikatoren zum Konzentrationsgrad lässt sich zeigen, dass der Konkurrenzdruck für deutsche Banken im europäischen Kontext zwar vergleichsweise hoch ist. Dennoch operieren deutsche Banken unter einer ähnlichen Marktkonstellation (monopolistische Konkurrenz) wie deren europäische Konkurrenten. Die detaillierten Indikatoren geben darüber hinaus Hinweise darauf, dass innerhalb des deutschen Bankensektors das Regionalprinzip den Wettbewerbsdruck für die Sparkassen und Genossenschaftsbanken in Vergleich zu den privaten Kreditbanken mildert. Es bestehen somit für den deutschen Bankensektor nur geringe Anstöße zur Veränderung "von innen". Gleichzeitig sind grenzüberschreitende Aktivitäten, darunter insbesondere Merger- & Acquisition-Aktivitäten (Kapitel 5), in Deutschland wenig ausgeprägt. Insgesamt ging damit der zögerliche interne Anpassungsprozeß mit einem geringen Anpassungsdruck "von außen" einher.

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Bibliographic Info

Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

Volume (Year): 75 (2006)
Issue (Month): 4 ()
Pages: 11-32

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Handle: RePEc:diw:diwvjh:75-4-2

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  1. Hella Engerer, 2005. "Bankenlandschaft Europa: Eigentum, Wettbewerb und Integration," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 74(4), pages 12-31.
  2. Demirguc, Asli & Laeven, Luc & Levine, Ross, 2003. "The impact of bank regulations, concentration, and institutions on bank margins," Policy Research Working Paper Series 3030, The World Bank.
  3. Claessens, Stijn, 2006. "Competitive implications of cross-border banking," Policy Research Working Paper Series 3854, The World Bank.
  4. Hempell, Hannah S., 2002. "Testing for Competition Among German Banks," Discussion Paper Series 1: Economic Studies 2002,04, Deutsche Bundesbank, Research Centre.
  5. Christos K. Staikouras & Anastasia Koutsomanoli-Fillipaki, 2006. "Competition and Concentration in the New European Banking Landscape," European Financial Management, European Financial Management Association, vol. 12(3), pages 443-482.
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Cited by:
  1. Höwer, Daniel, 2013. "Corporate main bank decision," ZEW Discussion Papers 13-018, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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