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European Financial Markets and Institutions

Description

A quarter of a century ago, the European financial system consisted of segmented national markets and institutions. The process of creating a single unified system has made considerable progress but still has some way to go. This book provides an excellent account of why this process is important, the current situation, and how it will proceed in the future. It is very well suited for its target audience of advanced undergraduates and Masters students and will be useful to all those interested in the topic.

Now that an integrated European banking and financial system has become established, there is a need for a book to describe and to analyse its working. The authors, who have great experience in the practical, regulatory and academic aspects of their subject, do this admirably, clearly and succinctly. This will be an invaluable textbook for all students of European banking and finance.

Keywords

financial intermediation international accounting standards Soci�t� G�n�rale bank performance bond home bias euro money market equity home bias large insurance groups measuring financial integration relevant geographical market systemic supervision total claim amount retail payment systems distinguishing countries banking integration emergency liquidity assistance foreign bank entry maintaining financial stability retail banking markets insurance penetration financial supervisors euro area lead supervisor actuarially fair premium retail payments

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