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What other big banks does Europe have that might stick around? Having all major banks US based would be a huge issue for Europe.
by ajmurmann 10y ago
What other big banks does Europe have that might stick around? Having all major banks US based would be a huge issue for Europe.
- pas 10y agoWhy? 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.)
- falsestprophet 10y agoFrom 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 [1] https://en.wikipedia.org/wiki/List_of_largest_banks https://en.wikipedia.org/wiki/List_of_largest_banks
- VeejayRampay 10y agoFrom 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.
- cm2187 10y agoUS 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.