TAILIEUCHUNG - INVESTIGATING DIVERSITY IN THE BANKING SECTOR IN EUROPE: THE PERFORMANCE AND ROLE OF SAVINGS BANKS

One motivation that was lacking in the United States was the need to help finance the national government. 7 In fact, the absence of a sizable outstanding national debt posed a problem in designing a system that would not compete with commercial bank lending activities. Sensitivity was high, as well, to the possibility that a nationwide postal bank might drain funds from local to big-city financial markets. To avoid this, the law provided that postal savings were to be deposited in solvent commercial (National or State) banks within the same city, town, village, or locality as they had been gathered, in proportion to those banks’ capital. The placements. | Investigating Diversity in THE Banking sector in Europe the performance and role OF Savings Banks Rym Ayadi Reinhard H. Schmidt Santiago Carbó Valverde with Emrah Arbak Francisco Rodríguez Fernandez Centre for European policy Studies Brussels The Centre for European Policy Studies CEPS is an independent policy research institute in Brussels. Its mission is to produce sound policy research leading to constructive solutions to the challenges facing Europe. The views expressed are entirely those of the authors. This paperback is the result of a two-year research project designed by the Financial Institutions and Prudential Policy FIPP unit of CEPS and led by Rym Ayadi. The project s Scientific Committee includes Rym Ayadi Senior Research Fellow and Head of FIPP at CEPS Reinhard H. Schmidt Professor at the University of Frankfurt and Santiago Carbó Valverde Professor at the University of Granada. The research team is composed of the members of the Scientific Committee and researchers from CEPS Emrah Arbak Research Assistant and the University of Granada Francesco Rodriguez Fernandez Assistant Professor . Support from the European Savings Banks Association ESBG Deutschen Sparkassen- und Giroverband DSGV the Austrian Savings Banks Group and Confederación Espanola de Cajas de Ahorros CECA is gratefully acknowledged. The authors wish to thank Patrick Steinpass Reinhold Rickes and Lothar Blatt-von Raczeck from DSGV Inés García-Pintos Balbás from CECA Herbert Vallant and Roland Tassler from the Austrian Savings Banks Association and Nicolas Jeanmart and Judith Ay from ESBG for sharing detailed data on savings banks in the selected countries and for their helpful remarks and suggestions. They also express their gratitude to Daniel Gros and Karel Lannoo of CEPS for valuable comments suggestions and revisions. ISBN 978-92-9079-868-2 Copyright 2009 Centre for European Policy Studies. All rights reserved. No part of this publication may be reproduced stored in a retrieval system

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