The Balancing Act of German Universal Banks and English Deposit Banks, 1880-1913

Caroline Fohlin

Business History, 2001, vol. 43, issue 1, 1-24

Abstract: This article uses aggregate bank balance sheet data to investigate systematic differences in the financial makeup and activities of universal and specialised banks over the decades leading up to World War One. The results show that British and German banks structured assets similarly, but German banks held more liquid assets relative to short?term liabilities. Furthermore, German banks apparently owned few industrial equities and did so mainly because of insufficient markets for new issues. The findings add to recent work suggesting that the commonly perceived gulf between British and German banking exaggerates the differences between systems and their effects.

Date: 2001
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DOI: 10.1080/713999206

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