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Tables of Contents for Banking in the New Europe
Chapter/Section Title
Page #
Page Count
List of Tables
xi
List of Figures
xv
Preface
xvii
Synopses of Contributions
xx
Introduction
1
24
Barry Moore
Introduction
1
1
Author profiles
2
6
EMU and retail banking in the EU
8
13
Forces for change in European retail banking
9
6
The implications of EMU for the structure and competitiveness of retail banking in Europe
15
3
The implications of EMU for prices of retail financial products
18
3
Concluding remarks and policy implications
21
4
Belgium
25
28
Rudi Vander Vennet
Market structure and performance
25
7
The Belgian banking sector
25
3
Ownership structure and privatisation
28
1
Market structure and performance
29
3
Regulatory framework
32
8
Regulatory framework prior to the SMP
32
1
Main SMP legislation
33
7
Remaining barriers to the SMP
40
1
Impact of the SMP
40
6
Bank strategies
40
1
Mergers and acquisitions
41
1
Internationalisation
42
1
Prices and margins
43
1
Costs and revenues
44
1
Efficiency, scale and scope economies
45
1
Bank preparations for EMU
46
4
The changeover plan during the transition to EMU
46
1
EMU challenges for Belgian banks
47
2
Banking sector responses
49
1
Conclusions
50
3
Denmark
53
29
Morten Balling
Anders Grosen
Market structure and performance
53
4
Size of the banking market 1985-1998
53
2
Ownership structure and privatisation
55
1
Competition
56
1
Banking performance
57
1
Regulatory framework
57
8
Regulatory framework prior to the SMP
57
1
Main SMP legislation
58
3
Other domestic regulatory landmarks
61
4
Remaining barriers to the SMP
65
1
Impact of the SMP
65
9
Bank strategies
67
3
Internationalisation
70
2
Prices and margins
72
2
Bank economies
74
1
Bank preparations for EMU
74
8
The impact of EMU on the Danish banking sector
74
5
Scenarios for Danish participation in EMU
79
1
Perceived barriers to EMU
79
1
Banking sector scenarios in the run-up to EMU and beyond
80
2
France
82
21
Dominique Plihon
Market structure and performance
82
6
Size of the banking market
82
4
Ownership structure and privatisation
86
2
Competition
88
1
Regulatory framework
88
2
The French Banking Act 1984
88
1
The Financial Activity Modernisation Act 1996
89
1
Impact of the SMP
90
9
Mergers, acquisitions and alliances
90
2
Internationalisation
92
3
Costs and revenues
95
1
Prices, margins and returns
96
3
Bank preparations for EMU
99
2
Individual banks' preparations
99
1
The Paris financial centre
99
1
Continuation of the work of the banking and financial community
100
1
Conclusions
101
2
Germany
103
25
Gunter Lang
Market structure and performance
103
7
Size and concentration
103
2
Economies of scale and scope
105
3
Competition
108
1
Banking performance
109
1
Regulatory framework
110
3
Regulatory framework prior to the SMP
110
2
Main SMP legislation
112
1
Remaining barriers to the SMP
112
1
Impact of the SMP
113
10
Bank strategies
113
3
Mergers and acquisitions
116
2
Internationalisation
118
1
Cost changes: scale, efficiency, and input prices
119
2
Revenue changes: quantities, prices and margins
121
2
Bank preparations for EMU
123
5
Effects of EMU on banking activities
123
2
Banking sector responses
125
1
Banking sector scenarios
126
2
Greece
128
32
Christos Gortsos
Market structure and performance
128
14
Size of the financial market
128
5
Ownership structure and privatisation
133
2
Competition
135
4
Banking performance
139
3
Regulatory framework
142
10
Regulatory framework prior to the SMP
142
1
Main SMP legislation
143
7
Other domestic regulatory landmarks
150
2
Bank preparations for EMU
152
8
Greece as a member state with derogation
152
1
Banking sector responses
153
3
Banking sector scenarios in the run-up to EMU and beyond
156
4
Ireland
160
26
Ray Kinsella
Philip Bourke
Introduction
160
1
Market structure and performance
161
10
Developments in the number of institutions
161
1
Branch network
162
2
Ownership structure and privatisation
164
2
Competition
166
2
Market concentration
168
1
Banking performance
168
3
Regulatory framework
171
3
Developments since the Single European Act 1986
171
1
Main SMP legislation
171
2
Present supervisory structure
173
1
Future of the supervisory system
174
1
Impact of the SMP
174
4
Bank strategies
174
1
Mergers and acquisitions
175
2
Internationalisation
177
1
Prices and margins
177
1
Bank preparations for EMU
178
8
Introduction
178
1
Background
178
1
EU regulatory response
179
1
EU commercial banking response
180
1
Role of the Central Bank of Ireland
181
1
Preparations by commercial banks
182
1
Prospective impact of EMU on Irish banks
183
3
Italy
186
20
Franco Bruni
Andreaea Balzarini
Daiele Fox
Efficiency v. profitability
186
1
Profitability
187
1
Measures of efficiency
188
2
Efficiency of Italian banks
190
2
International comparisons of efficiency
192
3
Relative efficiency of Italian banks 1988-1997
195
3
Bank preparations for EMU
198
8
Netherlands
206
24
Harald A. Benink
Jacques J. Sijben
Introduction
206
1
Market structure and performance
206
6
Main players and market positions
206
2
Competition
208
2
Entry barriers
210
1
Banking performance
211
1
Regulatory framework
212
2
Regulatory framework prior to the SMP
212
1
Main SMP legislation
212
1
Other domestic regulatory landmarks
213
1
Remaining barriers to the SMP
214
1
Impact of the SMP
214
3
Bank strategies
214
1
The strategy of ING
215
1
Evidence of the SMP's impact
216
1
Bank preparations for EMU
217
10
Banks as financial intermediaries
218
2
A new financial environment
220
2
The euro and the capital market
222
1
The euro and disintrmediation
223
2
The euro and the Dutch banking system
225
2
Conclusions
227
3
Portugal
230
23
Paulo Soares de Pinho
Introduction
230
1
Market structure and performance
230
9
Recent evolution
230
4
Ownership structure and privatisations
234
3
Banking performance
237
2
Regulatory framework
239
4
Regulatory framework prior to the SMP
239
2
Main SMP legislation
241
1
Remaining barriers to the SMP
242
1
Impact of the SMP
243
5
Bank strategies
243
1
Mergers and acquisitions
244
1
Internationalisation
245
1
Prices and margins
246
1
Costs and efficiency
247
1
Bank preparations for EMU
248
5
Introduction
248
1
Organisational impact
249
1
Strategic implications
249
4
Spain
253
35
Jose M. Pastor
Javier Quesada
Introduction
253
1
Market structure and performance
254
14
Changes in market size and composition
254
8
Emergence of new competitors
262
1
Changes in performance
263
2
Changes in margins and returns
265
3
Regulatory framework
268
8
Main deregulation processes
268
5
Remaining barriers to the SMP
273
3
Impact of the SMP
276
8
Bank strategies
276
1
Internationalisation
277
2
Prices, costs and margins
279
3
Efficiency and scale economies
282
2
Conclusions
284
4
United Kingdom
288
35
Edward P.M. Gardener
Philip Molyneux
Market structure
288
5
Financial structure
293
6
Market concentration and competition
299
3
New services and new entrants
302
7
Banking performance
309
5
Changing regulatory environment
314
7
Impact of the SMP
321
2
Conclusions
323