Euro-Area Banking At the Crossroads

Agnes Belaisch, Joaquim Levy, Laura Kodres and Angel Ubide

No 2001/028, IMF Working Papers from International Monetary Fund

Abstract: This paper analyses the process of disintermediation, the progress in consolidation, the impact of new technologies, and the role of ownership and control structures for the euro area banking sector. The impact of these trends on competition policy, "too big to fail" concerns, and financial stability is investigated. In this setting, the paper endorses stronger cross-border coordination among supervisory authorities but notes that more formal cross-border arrangements through supranational agencies seem, at this stage, premature. However, an increased capacity to perform centralized market surveillance, building on domestic supervisory information, is needed to ensure the efficiency and stability of euro-area financial markets.

Keywords: WP; central bank; Crédit Agricole; BNP Paribas; capital market; Internet banking; monetary union; Société Générale; Banking mergers; too big too fail; banking supervision; market share; Commercial banks; Cooperative banks; Loans; Credit; Personal income; Europe; Global; Eastern Europe (search for similar items in EconPapers)
Pages: 75
Date: 2001-03-01
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Citations: View citations in EconPapers (37)

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