A comparative analysis of the US and EU retail banking markets - Wsbi

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Table 19: Evolution of outstanding volume of consumer loans, 1998-2004 (in € billion) Annual Growth rate growth rate Dec-98 Dec-99 Dec-00 Dec-01 Dec-02 Dec-03 Dec-04 (2000-2004) (2000-2004) Germany 216.1 215.7 222.6 222.4 224.3 230.9 237.0 6% 2% United Kingdom 146.1 183.0 209.5 225.4 244.6 239.1 260.0 24% 6% Netherlands 12.3 12.8 13.8 13.9 18.6 20.4 22.5 63% 13% France 80.8 90.7 97.8 103.0 105.7 110.7 115.5 18% 4% Spain 36.7 43.3 48.5 48.7 53.7 55.5 62.3 28% 6% Denmark 10.9 11.3 12.5 12.2 11.9 12.3 13.1 5% 1% Italy 27.1 32.3 37.1 41.2 45.2 51.3 61.0 64% 13% Sweden 22.1 26.3 29.8 29.1 31.8 32.3 34.5 15% 4% Belgium 11.2 12.0 12.7 13.2 13.5 13.7 14.1 11% 3% Austria 14.8 16.5 23.9 23.3 22.1 20.6 23.5 -2% 0% Portugal 6.2 6.8 8.2 8.1 7.9 8.7 9.1 11% 3% Ireland 5.0 6.8 7.8 9.3 10.5 11.3 14.7 90% 17% Finland 3.3 3.0 3.1 6.4 6.7 7.3 8.0 158% 27% Greece n.a. n.a. 5.5 7.9 9.8 12.0 17.1 209% 33% Luxembourg 0.7 1.1 1.3 1.2 1.2 1.1 1.1 -17% -4% EU-15 n.a. n.a. 734.2 765.3 807.6 827.4 893.3 22% 5% Notes: The figures for Germany refer to other lending than housing loans to employees and other individuals. The figures for the UK refer to outstanding amounts of total sterling net unsecured lending to individuals. Data have been revised back to February 2003 following on from the previous inclusion of some additional 'other specialist lenders' and the removal of some non-resident based securitisation vehicles. (31 Jan 1900 onward). The figures for the Netherlands refer to total consumer credit to households. Start of a new series as at December 2000 owing to the enlargement of the euro area with Greece. Start of a new series as at December 2002 owing to a reclassification. Start of a new series as at December 2003 owing to reclassifications. The figures for France refer to loans granted to corporations and other resident agents by credit institutions on French national territory: Cash facilities of private individuals. The figures for Spain refer to Other MFIs loans to households in Spain sectors: consumer credit. The figures for Denmark refer to banks' lending to domestic households: consumer credit. The figures for Italy refer to consumer credit granted by banks and financial companies (excl. leasing and factoring). The figures for Sweden refer to banks' lending to households. The figures for Belgium refer to liabilities of households and non-fincial corporations: consumer credit (incl. hire-purchase, instalment-payment loans, leasing and opening of credits). The figures for Austria refer to total consumer credit to households. The figures for Portugal refer to loans of other monetary financial institutions to private individuals - By purpose and maturity (total consumer credit). The figures for Ireland refer to lending to households for personal use in the consumption of goods and services. The figures for Finland refer to Finnish MFIs' euro-denominated consumer credit to euro area households. In early 2001, the MFI sector was extended from deposit banks to all credit institutions. The figures for Greece refer to domestic MFIs' consumer credit to domestic households. The figures for Luxembourg refer to Luxembourg credit institutions' other lending than housing loans to euro area households and non-profitable institutions serving households. Source: ESBG calculations based on data from EU National Banks and the European Commission (DG BUDG) for the exchange rate. 108
Table 20: Evolution of onsumer credit in the EU, as a percentage of GDP, 1998-2004 Annual growth rate 1998 1999 2000 2001 2002 2003 2004 (2000-2004) Germany 11% 11% 11% 11% 10% 11% 11% 0% United Kingdom 12% 13% 13% 14% 15% 15% 15% 3% Netherlands 3% 3% 3% 3% 4% 4% 5% 9% France 6% 7% 7% 7% 7% 7% 7% 1% Spain 7% 8% 8% 7% 7% 7% 7% -1% Denmark 7% 7% 7% 7% 7% 7% 7% -2% Italy 3% 3% 3% 3% 4% 4% 5% 9% Sweden 10% 11% 11% 12% 12% 12% 12% 2% Belgium 5% 5% 5% 5% 5% 5% 5% -1% Austria 8% 8% 11% 11% 10% 9% 10% -3% Portugal 6% 6% 7% 7% 6% 7% 7% -1% Ireland 6% 8% 8% 8% 8% 8% 10% 8% Finland 3% 3% 2% 5% 5% 5% 5% 22% Greece n.a. n.a. 4% 6% 7% 8% 10% 23% Luxembourg 4% 6% 6% 5% 5% 4% 4% -9% EU-15 n.a. n.a. 8% 9% 9% 9% 9% 2% Source: ESBG calculations based on data from EU National Banks, Eurostat (for the GDP) and DG BUDG (for the euro exchange rate). Table 21: Evolution of average consumer credit per capita, 1998-2004 (in €) Annual growth rate 1998 1999 2000 2001 2002 2003 2004 (2000-2004) Germany 2,635 2,625 2,706 2,698 2,718 2,798 3,897 10% United Kingdom 2,461 3,070 3,500 3,739 4,045 3,938 4,276 5% Netherlands 778 810 865 863 1,152 1,257 1,381 12% France 1,382 1,544 1,657 1,736 1,773 1,848 1,923 4% Spain 923 1,084 1,201 1,193 1,293 1,316 1,467 5% Denmark 2,043 2,122 2,336 2,281 2,206 2,286 2,418 1% Italy 477 568 651 723 789 886 1,045 13% Sweden 2,501 2,969 3,360 3,265 3,560 3,602 3,824 3% Belgium 1,095 1,168 1,241 1,283 1,304 1,320 1,350 2% Austria 1,855 2,065 2,983 2,890 2,733 2,532 2,883 -1% Portugal 610 664 797 782 756 830 860 2% Ireland 1,350 1,803 2,022 2,385 2,639 2,813 3,591 15% Finland 635 583 603 1,229 1,288 1,403 1,538 26% Greece n.a. n.a. 504 716 886 1,088 1,537 32% Luxembourg 1,638 2,648 2,895 2,693 2,617 2,378 2,322 -5% EU-15 n.a. n.a. 1,945 2,017 2,117 2,157 2,321 5% Source: ESBG calculations based on information from National Banks (see Table 2) and Eurostat for the population. 109
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September 2006 RESEARCH A COMPARATI
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IE UK FR BE NL LU DK DE SE CZ AT SL
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The following WSBI/ESBG committees
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4 Regulation and supervision compar
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6.5 Issues of competition in retail
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To finish, if we had to pick from a
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In the US, credit institutions have
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Following the same logic, the EU co
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In that context, it is tempting to
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3. INSTITUTIONAL COMPARISON 3.1 Sec
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The market share of the US banking
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FDIC-insured commercial banks are i
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The subsidiary stock institution is
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Regulatory reform over the past thi
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State credit unions were first exem
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There has however been much effort
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3.2.2.2.2.2 Ownership and corporate
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Hermann Schulze-Delitzsch and Fried
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In contrast, building societies in
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The commitment of savings banks is
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4. REGULATION AND SUPERVISION COMPA
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In addition, for regulations define
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The European Parliament has to be k
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In fact, it should be mentioned her
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As far as coordination at the feder
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Despite the trend towards the estab
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Another important factor in the cho
Page 57 and 58: In the European Union, contrary to
Page 59 and 60: Although younger than CESR, both CE
Page 61 and 62: 4.2.5.1.1.1.1 Limitation of the geo
Page 63 and 64: 4.2.5.1.1.3 Recent trend: regulatio
Page 65 and 66: Another important common feature be
Page 67 and 68: The best execution rule was first m
Page 69 and 70: 4.3.2.2.4 National Market System ru
Page 71 and 72: The ISD set a basis for the develop
Page 73: Best execution rules exist in both
Page 76 and 77: The decline of savings institutions
Page 78 and 79: Relative to population, the Europea
Page 80 and 81: 5.2.2 Size of credit institutions 5
Page 82 and 83: 5.2.2.2 European Union In Europe, t
Page 84 and 85: 5.2.3 Concentration and consolidati
Page 86 and 87: 5.2.3.2 European Union Average CR5
Page 88 and 89: In terms of the nature of consolida
Page 90 and 91: 100% Graph 9: Structure of the asse
Page 92 and 93: In terms of growth of the volume of
Page 94 and 95: 5.3.2 Efficiency of credit institut
Page 96 and 97: Table 16: Evolution of the Return o
Page 98 and 99: Finally, looking at cost-income rat
Page 100 and 101: 9. The last couple of decades have
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Page 104 and 105: Furthermore, the average outstandin
Page 106 and 107: Under an open-end credit, the credi
Page 110 and 111: 6.2.1.2.2 Regulatory framework over
Page 112 and 113: 6.2.1.3 Comparison 6.2.1.3.1 Size o
Page 114 and 115: In terms of market competition, the
Page 116 and 117: The residential mortgage market in
Page 118 and 119: Funding by retail deposits represen
Page 120 and 121: In sharp contrast, the US mortgage
Page 122 and 123: 6.2.3.1.2 Lenders to small business
Page 124 and 125: The securitisation process requires
Page 126 and 127: Factoring is also continuously gain
Page 128 and 129: 6.2.3.2.4 Securitisation of small b
Page 130 and 131: The above fears can hardly be allay
Page 132 and 133: - ACH credits and debits: the stati
Page 134 and 135: 6.3.2.1.2 Financial intermediaries
Page 136 and 137: It should be noted that two of the
Page 138 and 139: Assuming that technology, globalisa
Page 140 and 141: The report adds: “although it bou
Page 142 and 143: Graph 19: Use of different distribu
Page 144 and 145: In terms of funding of the business
Page 146 and 147: Since then, established banks have
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Page 150 and 151: MoU Memorandum of Understanding OTC
Page 152 and 153: Annex 2: Statistical appendix Table
Page 154 and 155: Table F: Share of US banking indust
Page 156 and 157: Table L: Structure of the liabiliti
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Table R: Number of ATMS in the EU a
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F - Federal Deposit Insurance Corpo
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