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

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IE UK FR BE NL LU DK DE SE CZ AT SL PL SK HU FI EE LV LI WASHINGTON MONTANA OREGON IDAHO WYOMING NEVADA CALIFORNIA UTAH COLORADO ARIZONA NEW MEXICO NORTH DAKOTA MINNESOTA WISCONSIN SOUTH DAKOTA NEBRASKA IOWA ILLINOIS KANSAS MISSOURI MICHIGAN NEW YORK INDIANA OHIO PENNSYLVANIA WEST VIRGINIA MD. DEL. KENTUCKY VIRGINIA OKLAHOMA TENNESSEE NORTH CAROLINA ARKANSAS MISSISSIPPI SOUTH CAROLINA ALABAMA GEORGIA TEXAS VERMONT NEW HAMPSHIRE MASS. CONN. R.I. N.J. MAINE LOUISIANA PT ES FLORIDA IT GR MA CY ■ EU-15 ■ EU 10 New Member States (entry in May 2004) ■ United States of America Key statistics - Year 2003 EU-15 United States of America 15 Member States 50 States + (up to 30 April 2004) District of Columbia Area 3.2 million km 2 9.6 million km 2 Population 383.6 million 290.8 million Currencies 4 currencies: Euro for 12 Member States, 1 single currency: US dollar Danish Crown for Denmark, Swedish Crown for Sweden, Sterling Pound for the UK GDP €9,413 billion €9,728 billion US $11,204 billion US $11,578 billion GDP/capita (in euros) 24,537 33,453 GDP/capita (in US $) 29,204 39,816 GVA financial intermediation/Total GVA 5.4% 8.7% Total assets of the banking sector/GDP 277% 88% Note: GVA = Gross Value Added 4
Mr. Chris De Noose, Chairman of the Management Committee of WSBI and ESBG and Editor in Chief of this publication would like to thank the following members of the WSBI/ESBG staff for writing and editing the study: Ms. Michaela Koller Member of the Management Committee Mr. Nicolas Jeanmart Adviser Banking Supervision Ms. Marcela Gaybor Adviser Legal Affairs Mr. Norbert Bielefeld Deputy Director Payment Systems Mr. Hector Calvo Adviser Ms. Catherine Goislot Adviser Statistical Affairs Mr. Malcolm McDowell Adviser Economic Affairs Ms. Vlatka Cini Adviser Capital Markets Ms. Adina Apetroi Assistant Lobby Department The final lay-out and printing was organised by the WSBI/ESBG Communications Department team Mr. Dirk Smet Communications Manager Ms. Alessandra Pertot Communications Coordinator Ms. Malou Doumen Assistant Communications Department Mr. Dirk Gordts Organisation Officer 5
Page 1: September 2006 RESEARCH A COMPARATI
Page 6 and 7: The following WSBI/ESBG committees
Page 8 and 9: 4 Regulation and supervision compar
Page 10 and 11: 6.5 Issues of competition in retail
Page 12 and 13: To finish, if we had to pick from a
Page 14 and 15: In the US, credit institutions have
Page 16 and 17: Following the same logic, the EU co
Page 18 and 19: In that context, it is tempting to
Page 21 and 22: 3. INSTITUTIONAL COMPARISON 3.1 Sec
Page 23 and 24: The market share of the US banking
Page 25 and 26: FDIC-insured commercial banks are i
Page 27 and 28: The subsidiary stock institution is
Page 29 and 30: Regulatory reform over the past thi
Page 31 and 32: State credit unions were first exem
Page 33 and 34: There has however been much effort
Page 35 and 36: 3.2.2.2.2.2 Ownership and corporate
Page 37 and 38: Hermann Schulze-Delitzsch and Fried
Page 39 and 40: In contrast, building societies in
Page 41 and 42: The commitment of savings banks is
Page 43 and 44: 4. REGULATION AND SUPERVISION COMPA
Page 45 and 46: In addition, for regulations define
Page 47 and 48: The European Parliament has to be k
Page 49 and 50: In fact, it should be mentioned her
Page 51 and 52: As far as coordination at the feder
Page 53 and 54: Despite the trend towards the estab
Page 55 and 56:
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
Page 102 and 103:
102
Page 104 and 105:
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
Page 148 and 149:
148
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
Page 158 and 159:
Table R: Number of ATMS in the EU a
Page 160 and 161:
F - Federal Deposit Insurance Corpo
Page 162 and 163:
162
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