The Impact of SMP and EMU on German Banking
This study assesses the impact of the single market program (SMP) and the European monetary union (EMU) on the German banking sector. As a main result, the introduction of the EMU can be assessed as more important for the German banking system than the SMP because of the relative liberal conditions prior to the SMP. To maintain or enhance profitability in an environment of decreasing margins, all banks will increase their efforts to reduce costs. On the product side, the disintermediation process is expected to speed up. As a consequence, the traditional system of universal banks could be somewhat changed: A partial retreat of savings as well as cooperative banks from investment banking, accompanied by increasing market shares in the branch-based retail business. For commercial banks, the consultation-intense investment business is very attractive. On the retail sector, a specialization on direct banking allows for additional customers from abroad as well as for high growth rates in the brokerage business.
|Date of creation:||Feb 2000|
|Contact details of provider:|| Postal: Universitaetsstrasse 16, D-86159 Augsburg, Germany|
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- Günter Lang & Peter Welzel, 1998. "Technology and Cost Efficiency in Universal Banking A “Thick Frontier”-Analysis of the German Banking Industry," Journal of Productivity Analysis, Springer, vol. 10(1), pages 63-84, July.
- Jalal D. Akhavein & Allen N. Berger & David B. Humphrey, 1996. "The Effects of Megamergers on Efficiency and Prices: Evidence from a Bank Profit Function," Center for Financial Institutions Working Papers 96-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
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- Günter Lang, Peter Welzel, 1999. "Mergers Among German Cooperative Banks. A Panel-based Stochastic Frontier Analysis," Working Paper Series B 1999-03, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät.
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- Doris Neu Berger, 1998. "Industrial Organization of Banking: A Review," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 5(1), pages 97-118. Full references (including those not matched with items on IDEAS)
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