Bank Management

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1.2 Basic Structure of the German Banking System 1.2.3 Specialized p Banks Realkreditinstitute Long-term housing credits and state financing Former: Privilege to refinance through PPfandbriefe and Kommunalobligationen on the capital market (similar to covered bondss) Deregulation led to very risky new businness models (see HRE scandal) Bausparkassen Idea of an autarkic community of savers s to finance private housing Autarky as basis for interest rate guaranntees, but uncertainty about the date of the granting of the loan “Learning contracts”, as debtors prove ttheir ability to save before getting the loan Seemingly fragile business concept, buut strong resilience in the crisis Prof. Dr. Hans-Peter Burghof, University of Hohenheim, Bank Management 18
1.2 Basic Structure of the German Banking System 1.2.3 Specialized p Banks Direktbanken (direct banks) Modern communication technology (teleephone, internet) to reduce costs Limited business concept, often only prrivate customers No special legal provisions Kapitalanlagegesellschaften (investmennt companies) Investment of clients money in Funds Investmentgesetz (formerly Gesetz übeer Kapitalanlagegesellschaften) Wertpapiersammelbanken (collective seecurity deposit banks) …do exactly this for the banking commuunity Kreditinstitute mit Sonderaufgaben Furtherance of special p ggroups p or ppurpo p ses Prof. Dr. Hans-Peter Burghof, University of Hohenheim, Bank Management 19
Page 1 and 2: Bank Management 1 Bank and Banking
Page 3 and 4: 1.1 The Concept “Bank” 1.1.1 Le
Page 5 and 6: 1.1 The Concept “Bank” 1.1.2 Ge
Page 7 and 8: 1.1 The Concept “Bank” 1.1.3 Cl
Page 9 and 10: 1.2 Basic Structure of the German B
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Page 23 and 24: 1.3 Commercial Banking vs. Investme
Page 35: Literature Liaw, K. Thomas (2006):

Bank Management

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