Download e-book for kindle: Adapting to Financial Globalisation by Morten Balling, Elizabeth Hennessy, Eduard H. Hochreiter

By Morten Balling, Elizabeth Hennessy, Eduard H. Hochreiter

ISBN-10: 0203995554

ISBN-13: 9780203995556

ISBN-10: 0415252407

ISBN-13: 9780415252409

In response to a colloquium held via SUERF together with the Austrian nationwide financial institution, this publication addresses the difficulty of adapting to the calls for of economic globalisation, a urgent preoccupation of bankers monetary associations and fiscal experts.

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Sample text

Net are leaders in their respective markets; eventually becoming truly global in terms of investment banking through internal and external growth (here the recruitment of very competent bankers is of the essence). So, we have new and exciting challenges ahead of us on the way to European banking consolidation. Saving resources, keeping freedom of maneuver and reaching out towards profitable markets will, as always, remain the key principles of action. Notes 1 The concept of ‘major’ bank is a judgemental concept based on a qualitative assessment, by FITCH IBCA, of a number of quantitative criteria the absolute value of which differs from one country to another.

Finally, we have also seen the establishment of new links between the insurance sector and banks. Given the complexity of the ‘bancassurance issue’, I will just mention it in passing. Insurance companies tend to have higher PEs than banks and they are eager to control distribution channels for their products. Rather than building up a new distribution network from scratch, it does make sense for them to gain access to retail banking networks. If we try to combine a business line dimension with the geographic one, we can identify four types of moves: 1 Large players have acquired local and profitable niches.

The euro has assumed this role since the beginning of last year, and in the words of Charles Wyplosz, the Central and Eastern European states – and considering the long term, also some of the CIS countries – may be seen as ‘the euro’s turf’, above all if this area succeeds in posting sustained high growth rates, which we all hope will be the case. A more detailed analysis shows that the single currency has become particularly important as a unit of account in international goods and service trade in the CEECs.

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Adapting to Financial Globalisation by Morten Balling, Elizabeth Hennessy, Eduard H. Hochreiter


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