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

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Table L: Structure of the liabilities in the EU, 1992 - 2003 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Borrowing from Central bank 1.7% 1.8% 1.5% 1.4% 1.2% 1.0% 1.0% 0.8% 0.9% 0.7% 0.9% 1.2% Interbank deposits 25.2% 25.3% 27.2% 27.6% 27.7% 27.6% 28.0% 26.9% 26.0% 25.0% 24.9% 24.5% Non-bank deposits 45.7% 46.0% 44.9% 44.4% 44.5% 43.7% 43.0% 42.2% 42.0% 42.7% 42.5% 42.6% Bonds 14.1% 14.5% 14.5% 14.3% 14.2% 14.3% 14.3% 15.6% 16.0% 16.6% 16.8% 16.9% Other liabilities 13.3% 12.4% 11.9% 12.2% 12.5% 13.4% 13.8% 14.4% 15.1% 14.9% 14.8% 14.8% Note: Excludes Ireland for the years 1992, 1993 and 1994. Source: ESBG calculations based on OECD data; "Bank profitability", 2002 & 2004. Table M: Structure of the assets in the EU, 1992 - 2003 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Cash and balance with Central Bank 2.2% 1.9% 1.5% 1.3% 1.3% 1.2% 1.1% 1.3% 1.1% 1.3% 1.2% 1.2% Interbank deposits 24.5% 25.2% 24.8% 24.8% 24.3% 23.7% 22.8% 21.5% 20.0% 19.7% 19.8% 19.9% Loans 48.1% 46.2% 45.8% 45.6% 45.3% 45.2% 45.2% 45.3% 46.6% 46.4% 47.1% 47.0% Securities 15.3% 17.0% 18.5% 18.7% 19.7% 20.2% 21.0% 21.1% 20.8% 21.1% 21.2% 21.3% Other assets 9.8% 9.8% 9.4% 9.6% 9.5% 9.7% 9.9% 10.8% 11.5% 11.5% 10.8% 10.6% Note: Excludes Ireland for the years 1992, 1993 and 1994. Source: ESBG calculations based on OECD data; "Bank profitability", 2002 & 2004. Table N: Share of new mortgages financed in secondary markets in the EU 1996 1997 1998 1999 2000 2001 2002 Mortgage Bond Funding 26.00% 26.00% 30.00% 25.50% 22.50% 21.70% 18.50% MBS Funding 0.00% 2.00% 2.50% 4.00% 7.10% 7.70% 9.50% Total Secondary Market Funding 26.00% 27.70% 32.50% 29.60% 29.20% 29.20% 27.90% Source: "The Costs and Benefits of Integration of EU Mortgage Markets", London Economics, August 2005 (EMF Database). Table O: Recent evolution of the mortgage market in the EU and the US, 2000-2003 EU US 2000 2001 2002 2003 2000 2001 2002 2003 Residential housing loans outstanding (in € billion) 2,793 2,991 3,278 3,539 6,018 6,457 6,506 6,119 as a proportion of GDP 32% 33% 35% 38% 57% 57% 59% 63% Source: ESBG calculations based on information from the national central banks for the EU figures and from the US Mortgage Bankers Association for the US figures. GDP figures and exchange rate are based on Eurostat database. 156
Table P: Percentage of SMEs using debt financing in EU-15, by country Overdraft Leasing Factoring Bank Loan Belgium 37.5 25.0 4.0 56.0 Denmark 73.0 25.0 7.0 24.0 Germany 47.5 42.5 2.0 66.0 Greece 23.0 15.0 8.0 68.0 Spain 8.0 48.0 15.0 58.0 France 36.0 47.0 32.0 63.0 Ireland 70.0 48.0 14.0 39.0 Italy 78.0 41.0 17.0 17.0 Luxembourg 22.0 33.0 11.0 44.0 Netherlands 17.5 31.0 3.0 50.0 Austria 42.0 39.0 6.0 65.0 Portugal 16.0 47.0 10.0 48.0 Finland 46.0 37.0 14.0 64.0 Sweden 70.0 39.0 3.0 37.0 United Kingdom 59.0 42.0 7.0 34.0 European Union 50.0 39.0 11.0 45.5 Note: The survey was conducted among independant medium-sized entreprises (50-250 employees). Source: Grant Thornton, The European Business Survey, London, 2001. Table Q: Use of different distribution channels in banking in some selected EU countries Telephone Mail/Fax Internet Branch No response Germany 6% 2% 5% 86% 1% Spain 5% 1% 3% 88% 3% France 11% 4% 2% 80% 3% United Kingdom 25% 5% 5% 63% 2% Italy 5% 3% 4% 84% 4% Sweden 14% 2% 7% 76% 1% Europe 11% 3% 4% 79% 3% Source: Datamonitor Impact 2001 157
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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
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In the European Union, contrary to
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Although younger than CESR, both CE
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4.2.5.1.1.1.1 Limitation of the geo
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4.2.5.1.1.3 Recent trend: regulatio
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Another important common feature be
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The best execution rule was first m
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4.3.2.2.4 National Market System ru
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The ISD set a basis for the develop
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Best execution rules exist in both
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The decline of savings institutions
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Relative to population, the Europea
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5.2.2 Size of credit institutions 5
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5.2.2.2 European Union In Europe, t
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5.2.3 Concentration and consolidati
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5.2.3.2 European Union Average CR5
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In terms of the nature of consolida
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100% Graph 9: Structure of the asse
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In terms of growth of the volume of
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5.3.2 Efficiency of credit institut
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Table 16: Evolution of the Return o
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Finally, looking at cost-income rat
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9. The last couple of decades have
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102
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Furthermore, the average outstandin
Page 106 and 107: Under an open-end credit, the credi
Page 108 and 109: Table 19: Evolution of outstanding
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 158 and 159: Table R: Number of ATMS in the EU a
Page 160 and 161: F - Federal Deposit Insurance Corpo
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