Re:The Epic Collapse of Deutsche Bank
by ajmurmann on Sunday July 10, 2016 @11:26AM
(#12065891)
What other big banks does Europe have that might stick around? Having all major banks US based would be a huge issue for Europe.
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Re:The Epic Collapse of Deutsche Bank
by falsestprophet on Sunday July 10, 2016 @11:55AM
(#12065987)
From the top 20 banks by assets [1]:
4 HSBC
7 BNP Paribas
10 Crédit Agricole
11 Deutsche Bank
12 Barclays
19 Societe Generale
20 Royal Bank of Scotland
Re:The Epic Collapse of Deutsche Bank
by VeejayRampay on Sunday July 10, 2016 @02:21PM
(#12066556)
From the same Wikipedia page, France is #3 in the world for number of banks in the top 50 by assets behind China and the USA.
Why?
Just as any company doing business in the US is bound by US law any bank doing business in the EU is subject to the laws of the member states.
And banking is a very well-behaved sector from an incentives (stick and carrots, regulation, microeconomics) perspective, so there will always be banks in the EU. (The question is the barrier to entry, and financial stability and consumer protection, not number of banks.)
US and China based!
But that's the direction of the world anyway. Most European regulators are actively trying to shrink their banks. This is certainly the case for UK and Swiss banks, less so for French banks.