Charts

Focus topic global financial markets

Following the deep crisis from 2007 until 2009 the structures and regulatory frameworks of the global financial markets have transformed as much as the business models of the financial institutions. DB Research is monitoring and participating in the debate about the impact of the new financial market regulatory regime as well as the medium-term effects of the "new normal" on financial markets in both Europe and the US. In addition, our publications illustrate the potential consequences for the players in the global financial markets, for financial products and the infrastructures on which they are based.

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Date

Title

Size

11.06.2013

Corporate funding in Europe: Bonds replacing loans?

Topics:	Banking; Economic policy; Financial market trends; Global financial markets; International financial markets; International financial system; Key issues

91k

10.06.2013

Ultra-low interest rates: How Japanese banks have coped

Abstract:	This study reviews how Japanese banks have responded to the adverse macroeconomic environment during the past ten to twenty years. The experience of Japanese banks provides some valuable insights into the effect of a prolonged phase of low interest rates on bank balance sheets and profitability. Banks have adapted both the cost and income drivers of their business. Profitability and efficiency gains have been limited though. While Japanese banks have reduced their bad loan problem, they have also become increasingly exposed to their home sovereign.
Topics:	Banking; Global financial markets; Key issues; Monetary policy

809k

10.05.2013

Presentation: Corporate Bonds in Europe: attractive environment for bond issuers

Topics:	Banking; Capital markets; Capital markets policy; Economic policy; Economic trends; Financial market trends; Global financial markets; International financial markets; International financial system; Key issues; Macroeconomics; Monetary policy

432k

03.05.2013

Pricing in retail banking: Scope for boosting customer satisfaction & profitability

Abstract:	With banks searching for sources of income and growth and the relationship of trust with their customers being redefined, pricing is a key issue in retail banking. Price-setting calculations for retail financial products can be quite complex and one crucial factor for success is the capacity to identify and collate all necessary information to take sound decisions on this basis. While the range of analytical options has grown considerably in recent years, the challenge banks are facing is to use them intelligently to develop client-oriented offers. To complement their pricing, banks also need convincing strategies to communicate the prices and value-propositions of their products.
Topics:	Banking; Financial market trends; Global financial markets; Key issues; Sectors / commodities; Services; Social values / Consumer behaviour; Supervision and regulation

810k

11.04.2013

Corporate bonds: Little support for EMU’s periphery

Abstract:	Substituting bank lending has been a recurring theme in connection with corporate bond issuance during the last few years and explains part of the recent peaks. At first sight, corporate bond issuance in EMU’s periphery has kept up with EMU’s core countries. However, below the surface lies a strikingly different pattern that suggests that companies in the periphery receive much less support from bond markets.
Topics:	Banking; Capital markets; Capital markets policy; Econometrics; Economic policy; Economic trends; EMU; European issues; Financial market trends; Global financial markets; International financial markets; International financial system; Key issues; Macroeconomics; Quantitative analysis

115k

25.03.2013

Financial Transaction Tax: Counterproductive

Abstract:	The Financial Transaction Tax (FTT) that 11 EU members – including Germany, France, Italy and Spain – are planning to implement in January 2014 is misguided, counterproductive and badly designed. Most importantly, at a time when the cost and availability of capital in the EU is sometimes problematic, the FTT would raise it for households, firms and even states.
Topics:	Banking; Economic growth; Economic policy; Global financial markets; International financial markets; International financial system; Key issues; Supervision and regulation; Tax policy

274k

14.02.2013

Pay Wars – Attack of the internet giants

Abstract:	For many months, a heated debate has raged across a variety of sectors on the question of which web-based payment technologies people are going to use in future when they go shopping. Not only players from the financial sector are intensively searching for an answer.
Topics:	Banking; E-commerce; Electrical engineering; Financial market trends; Global financial markets; Information technology; Innovation; International financial system; Internet; Key issues; Macroeconomics; Retail trade; Sectors / commodities; Social values / Consumer behaviour; Socio-econ. trends; Supervision and regulation; Technology and innovation; Telecommunication

144k

31.01.2013

Corporate bond issuance in Europe: Where do we stand and where are we heading?

Abstract:	High investor demand is fuelling corporate bond issuance in the EU. Deleveraging in some countries and the fact that some banks are paying roughly the same or even higher rates for their refinancing than their customers no doubt has pushed corporate debt markets. But the main driver for the high issuance volumes seems to be investors’ search for yield in a low interest rate environment. As sovereign bonds are offering historically low yields, corporate bonds have turned into a significant investment alternative in the present market conditions. However, in an era of Knightian uncertainty and high liquidity, strong growth in corporate bond market calls for attention to potential overheating.
Topics:	Banking; Financial market trends; Global financial markets; International financial markets; Key issues; Supervision and regulation

904k

20.12.2012

The future of (mobile) payments: New (online) players competing with banks

Abstract:	The rise of mobile and online payments opens up new opportunities, but of course also presents new risks for financial services providers. A lot of attention is currently paid to the (walled garden) strategies of new competitors such as Google, Apple or PayPal. They are increasingly putting out their feelers in segments outside of their own territory, e.g. the market for (mobile) payments. Those financial services providers who do not modernise their upstream and downstream value chains or subject them to the transformation process required for the digital network architecture could suffer painful losses over the medium term. Our paper draws four scenarios on how the market share of banks might develop in about three to five years’ time, with a particular focus on the European market.
Topics:	Banking; E-commerce; Global financial markets; Information technology; Innovation; Internet; Key issues; Media/PR & Advertising; Sectors / commodities; Services; Social values / Consumer behaviour; Socio-econ. trends; Technology and innovation; Telecommunication; Trade

1075k

20.11.2012

Universal banks: Optimal for clients and financial stability

Abstract:	The political dynamics in Europe have shifted against universal banks in recent months. This is a dangerous development that threatens the key role such banks play in modern economies and risks eliminating many of the advantages universal banks have to offer: in a “one-stop shop”, they provide their customers with a broad range of tailor-made services, higher volumes of credit and lower funding costs than narrower “specialist banks”. In addition, thanks to the diversification of their operations and the potential to leverage revenue and cost synergies, universal banks tend to be more stable than specialist banks. They also provide for diversity in bank business models and are better positioned to monitor the financial health of specific clients as well as to spot unsustainable risk accumulation across financial markets.
Topics:	Banking; Global financial markets; International financial markets; International financial system; Key issues; Supervision and regulation