Are banks public utilities? Evidence from Europe

Philip Molyneux ()

Journal of Economic Policy Reform, 2017, vol. 20, issue 3, 199-213

Abstract: The regulatory response to the global financial crisis has been to instal a myriad of new rules in order to improve bank capital and liquidity, as well as to reduce systemic risks through structural reform. All these new rules place a straightjacket around banker’s activities and inhibit their operational freedom. This new environment has made European banks look less like private free-wheeling profit-maximising firms and more like public utilities. The utility services banks provide to society means that they should be overseen even more heavily. This includes greater regulatory oversight of bank pricing, profitability and service provision.

Date: 2017
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DOI: 10.1080/17487870.2017.1294073

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