Banking on the Euro: Changes and Challenges

Article Abstract:

Keywords: Barriers, Corporate, Debt, Cross-Border Regulatrions, Bank Notes The European banking industry has long been characterised as fragmented. It has consisted of a few large banks in each country operating mainly within their own borders. Multiple currencies, the lack of highly developed security markets, cross-border regulations, and traditions have all contributed to this industry structure. Corporate customers have relied upon domestic banks for their foreign exchange needs and for much of their debt financing.

United States, Research, Finance

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Banking on the Euro: Changes and Challenges

Article Abstract:

The European banking industry consolidated into the European Monetary Union. However, the transition to the new currency, the Euro, and the conversion in the accounting systems have incurred costs. Moreover, banks found that they had to provide changes in their structures and in their products and services to remain competitive in the new consolidated market.

Banking Institutions, Depository Credit Intermediation, Marketing procedures, DEPOSITORY INSTITUTIONS, Banks (Finance), Marketing

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Banking on the Euro: Changes and Challenges

Article Abstract:

The switch from their European currencies to the Euro as a single currency will entail a heavy operational and technology costs. The ability of banks to adapt to the new market environment and to deal with the challenge posed by global banks will decide if they will survive the change.

Government regulation (cont), Administration of General Economic Programs, Currency Stabilization Programs, Economic aspects, Financial services industry, Financial services, Brief Article, Control, Eurocurrency market, Currency stabilization, Foreign exchange market

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