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The Disruption of Retail Banking: A Competition Analysis of the Implications for Financial Stability and Monetary Policy

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  • Paolo Siciliani

Abstract

This article analyses the competition impact of the implementation of two recent regulatory reforms aimed at boosting competition in retail banking by reducing consumer search and switching costs and empowering different business models whereby non-bank operators are able to compete with banks with respect to specific activities such as the provision of payment services. The article investigates how banks may react strategically in order to fend off the resulting competition threats which could undermine retail banks’ reliance on the supply of sight retail deposits as their main source of funding. It also explores how financial regulators, in particular prudential authorities should respond, mindful of the risk for unintended consequences.

Suggested Citation

  • Paolo Siciliani, 2018. "The Disruption of Retail Banking: A Competition Analysis of the Implications for Financial Stability and Monetary Policy," Journal of Financial Regulation, Oxford University Press, vol. 4(2), pages 167-189.
    • Handle: RePEc:oup:refreg:v:4:y:2018:i:2:p:167-189.
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    File URL: http://hdl.handle.net/10.1093/jfr/fjy006
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    Cited by:

    1. José Ramón Martínez Resano, 2021. "Regulating for competition with BigTechs: banking-as-a-service and “beyond banking”," Revista de Estabilidad Financiera, Banco de España, issue NOV.
    2. José Ramón Martínez Resano, 2021. "Regulating for competition with BigTechs: banking-as-a-service and “beyond banking”," Financial Stability Review, Banco de España, issue Autumn.
    3. José Ramón Martínez Resano, 2021. "Regulating for competition with BigTechs: banking-as-a-service and “beyond banking”," Financial Stability Review, Banco de España, issue NOV.
    4. Heikki Marjosola, 2021. "The problem of regulatory arbitrage: A transaction cost economics perspective," Regulation & Governance, John Wiley & Sons, vol. 15(2), pages 388-407, April.
    5. Rahman, Md Habibur, 2020. "Financial Analysis Of Costco Wholesale Corporation: Exploring The Strengths And Weaknesses," Bangladesh Journal of Agricultural Economics, Bangladesh Agricultural University, vol. 41(1), July.

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