Liberating capital

Article Abstract:

European financial institutions have accelerated the pace toward breaking down remaining barriers to a free flow of capital in the European Community. Most banks have created partnerships with financial concerns in other countries by mergers and acquisitions, and trimmed costs by closing branches. Passage of the Single European Act and pressure from the European Community Commission (ECC) expedited acceptance of regulations for unit trusts, once a sticking point. Although some insurance companies have formed partnerships with banks of other countries, the industry has lagged in rewriting regulations enabling them to move toward a single economy. The ECC has aided insurance companies by being freer in granting licenses to operate throughout Europe. Efforts by investment houses to develop a single economy have been hampered by a lack of precedent setting legislation and trust gained from international cooperation.

Investment Offices, Insurance carriers, not elsewhere classified, Planning, Finance, Insurance industry, European Union. European Commission, Single European market

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Futuristic finance

Article Abstract:

The European Community is moving toward a single market for financial services in 1992 which promises to result in choice, standardization and simplicity for the European investors looking to get the best return and value for their money. The European Commission is working to erase the differences which currently exist in the divided European market and is promoting the idea of mutual recognition and uniform standards in three specific areas: banking, securities, and insurance.

Economic aspects, Financial services industry, Financial services, Foreign exchange

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Citibank goes for broke

Article Abstract:

The US bank holding company Citicorp is planning an aggressive expansion of the operations of its European commercial and investment banking division. The expansion is intended to increase the division's contribution to the parent's profits to 25% by the year 2000. Citibank expects the growth to come from its European retail and wholesale operations, particularly from its new retail capacity in the United Kingdom.

Bank holding companies, Europe, Citibank N.A. (New York, New York), company profile

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