Savings Banks and Cooperative Banks in European Banking Systems
Languages of publication
Until about 25 years ago, almost all European countries had a so-called "three pillar" banking system comprising private banks, public savings banks and (mutual) cooperative banks. Since that time, several European countries have implemented far-reaching changes in their banking systems, which have more than anything else affected the two "pillars" of the savings and cooperative banks. The paper first describes these changes and points out the specific situation in Germany, as this country is almost unique in so far as the German savings banks and cooperative banks have maintained most of their traditional features. The article then describes the structure of the German "Three-Pillar" banking system and the place and role of savings and cooperative banks in it and concludes with a plea for diversity of institutional forms of banks by arguing why it is important to safeguard the strengths of those types of banks that do not conform to the model of a large shareholder-oriented commercial bank.
- Altunbas, Y., Evans, L. and Molyneux, P. (2001): "Bank Ownership and Efficiency", Journal of Money, Credit and Banking, Vol. 33, pp. 926-954.
- Ayadi, R., Llewellyn, D., Schmidt, R.H., Arbak, E. and de Groen, W.P. (2010): Investigating Diversity in the Banking Sector in Europe: Key Developments, Performance and Role of Cooperative Banks, Brussels: Centre for European Policy Studies.
- Ayadi, R., Schmidt, R.H. and Carbo-Valverde, S. (2009): Investigating Diversity in the Banking Sector in Europe: The Performance and Role of Savings Banks, Brussels: Centre for European Policy Studies.
- Beck, T., Hesse, H., Kick, T. and von Westernhagen, N. (2009): "Bank Ownership and Stability: Evidence from Germany", working paper.
- Behr, P., Norden, L. and Noth, F. (2013): "Financial constraints of private firms and bank lending behaviour", Journal of Banking and Finance, Vol. 37, pp. 3472-3485.
- Bülbül, D., Schmidt, R.H. and Schüwer, U. (2013): "Caisses d'Épargen et Banques Cooperatives en Europe", Revue d'Économie Financière, Vol. 111: Les Systèmes Bancaires Européens 1: État des lieux, pp. 159-188. (An English version "Savings Banks and Cooperative Banks in Europe" is available as White Paper No. 5 which can be downloaded from the homepage of the Center of Excellence SAFE at Goethe University in Frankfurt.
- Fonteyne, W. (2007): "Cooperative Banks in Europe - Policy Issues". IMF Working Paper No. 159, Washington D.C.
- Hackethal (2004): "German Banks and Banking Structure", in Krahnen, J.P. and Schmidt, R.H. (eds.): The German Financial System. Oxford [u.a.]: Oxford University Press, pp. 71-105.
- Moreau, N. and Boukhorssa, N. (2002): "Les Caisses d'épargne : un nouvel acteur dans le monde cooperative", Revue d'économie financière, n° 67, pp. 249-259.
- Polster, A. (2005): "Savings bank reform in France: Plus ca change, plus ca reste - presque - le meme", Deutsche Bank Research, EU Monitor No. 22, 3 May 2005.
- Schmidt, R.H., Bülbül, D. and Schüwer, U. (2014): "The Persistence of the Three Pillar Banking System in Germany", in Alternative Banking and Financial Crisis, ed. by O. Butzbach and K. von Mettenheim, London: Pickering and Chatto.
Publication order reference