
Contents
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35.1 Introduction 35.1 Introduction
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35.2 Structural and Performance features of European Banking 35.2 Structural and Performance features of European Banking
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35.2.1 Deregulation and Integration 35.2.1 Deregulation and Integration
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35.2.2 Profitability and Efficiency 35.2.2 Profitability and Efficiency
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35.2.3 Competition and Risk 35.2.3 Competition and Risk
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35.3 Crisis in European Banking 35.3 Crisis in European Banking
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35.4 New Regulatory Architecture and Banking Union 35.4 New Regulatory Architecture and Banking Union
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35.4.1 European Banking Union 35.4.1 European Banking Union
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35.5 Summing Up and Going Forward 35.5 Summing Up and Going Forward
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References References
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35 Banking in the European Union: Deregulation, Crisis, and Renewal
Get accessJohn Goddard is the Head of Aberystwyth Business School at Aberystwyth University, Wales. He is also Emeritus Professor of Financial Economics at Bangor University, and served as Deputy Head of Bangor Business School between 2007 and 2017. His previous academic appointments were at the University of Leeds, Abertay University and Swansea University. He has several years’ practitioner experience in the UK life insurance industry. His research interests are in industrial organization, financial markets and institutions, and the economics of professional sports. He is author or co-author of sixty-nine refereed journal articles. His co-authored book publications include The Economics of Football (2nd edition, Cambridge University Press, 2011), Banking: A Very Short Introduction (Oxford University Press, 2016) and the textbook Industrial Organization: Competition, Strategy, Policy (5th edition, Pearson, 2017).
Philip Molyneux is Dean of the College of Business Administration at the University of Sharjah (in the UAE). His main area of research is on the structure and efficiency of banking markets and he has published widely in this area. Recent publications appear in the Journal of Money, Credit and Banking, Journal of Financial Intermediation, Journal of Banking & Finance and the Review of Finance. He has co-written/edited over thirty-five books and is also the series editor of the Palgrave Macmillan Studies in Banking and Financial Institutions—with over 135 books in the series to date. In the past, Philip has acted as a consultant to the New York Federal Reserve Bank, World Bank, European Commission, UK Treasury, Citibank Private Bank, Barclays Wealth, McKinsey, Credit Suisse and various other international banks and consulting firms.
John O. S. Wilson is Professor of Banking and Finance and Director of the Centre for Responsible Banking & Finance based at the University of St Andrews. He is also a Member of the Scientific Advisory Board of Chartered Association of Business Schools Academic Journal Guide. Previously, he was Treasurer and General Secretary of the British Accounting and Finance Association during the period 2009–11, and the founding Chair of the British Accounting and Finance Association Financial Markets and Institutions Special Interest Group over the period 2007–18. He has guest edited special issues for Journal of Corporate Finance, Journal of Banking & Finance, Journal of Economic Behaviour & Organization, European Journal of Finance, Public Money & Management, British Accounting Review and Managerial Finance. In the period June 2011 to April 2012, John served as a full member of a Commission on Credit Unions established by the Irish Government. The Commission delivered interim and final reports to the Minister for Finance in September 2011 and April 2012 respectively. In 2018, John delivered evidence on the impact of Brexit on UK small and medium-sized enterprises to the House of Lords EU Internal Markets Committee.
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Published:07 April 2015
Cite
Abstract
The European banking industry has been influenced by a wide range of regulatory developments. The deregulation that has taken place until the credit crisis reduced or eliminated many of the lines of demarcation between banks and other financial service providers, and helped to facilitate both domestic and cross-border competition. The credit crisis of 2007–08 and the more recent European sovereign debt crisis have led to large losses and the failure and closure of many banks, and forced the intervention of both central banks and governments in domestic banking systems. It is against this background that this chapter discusses the recent evolution of the European industry along with a discussion of the latest regulatory developments, which include plans for a European Banking Union.
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