Will video kill the radio star? Digitalisation and the future of banking

Thorsten Beck, Stephen Cecchetti, Magdalena Grothe, Malcolm Kemp, Loriana Pelizzon () and Antonio Sánchez Serrano

No 12, Report of the Advisory Scientific Committee from European Systemic Risk Board

Abstract: This report discusses the impact of digitalization on the structure of the European banking system. The recent wave of financial innovation based on the opportunities digitalisation offers, however, has come mostly from outside the incumbent banking system in the form of new financial service providers, either in competition or cooperation with incumbent banks but with the potential for substantial disruption. After discussing how identified risks may evolve and the emergence of new sources of risks, the report introduces three different scenarios for the future European banking system: (i) incumbent banks continue their dominance; (ii) incumbent banks retrench; and (iii) central bank digital currencies (under certain specifications). It also derives macroprudential policy measures.

Date: 2022-01
New Economics Papers: this item is included in nep-ban, nep-cba, nep-com, nep-eec, nep-fdg, nep-mac, nep-pay and nep-reg
Note: 1601201
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.esrb.europa.eu//pub/pdf/asc/esrb.ascre ... ng~83f079b5c7.en.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:srk:srkasc:202212

Access Statistics for this paper

More papers in Report of the Advisory Scientific Committee from European Systemic Risk Board 60640 Frankfurt am Main, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Official Publications ().