Abstract
Relevance.The purpose of this article is to analyse particular features of the modern situation in of the banking and stock market sectors of the Federal Republic of Germany. Some of the topical characteristics of the development of the German banking system during the last years are as follows: The restructuration of the Lands Banks, which was in the centre of the financial crisis of 2008–09; Continuing attempts to reorganise the Deutsche Bank which was and is in continued failure of profits; The decrease in inter-banking credits on the background of expected abandonment of the policy of “quantitative easing”. On the other hand, following a series of unlucky attempts by Deutsche Boerse to establish an alliance with the largest World’s Stock Exchanges, Frankfurt hope to get even with London and become European “financial capital” after Brexit completed.Methods.By analysis of publications edited by EU, ECB, Bundesbank, related German agencies, and also books and articles written by Russian and foreign authors this text demonstrates the changes within the structure of the German banking sector and the strong and weak aspects of the stock market of this country. The author used system’s approach and historical and statistical methods to allow the making of a holistic analysis of the selected topic in its development, as well as ranging statistical data properly and drawing up some conclusions regarding the eventual scenario of further development.Results.This research provided a background for the conclusion that the world financial and economic crisis of 2008–09 has more strongly affected the German banking sector than in former considerations. The leading banking institutions of the country such as Deutsche Bank and Commerzbank are in a hard financial situation. Relatively limited capital adequacy and low level of profitability of the majority of German banks represent important limits for its international activities. Meanwhile, the German stock market remains underdeveloped and therefore plays a subordinated role in financing companies.Prospects.The outcomes of this research could be useful for the assessment of long-term perspectives of the socioeconomic and innovative development of Germany which remains the biggest economy of the EU.
Highlights
Some of the topical characteristics of the development of the German banking system during the last years are as follows: The restructuration of the Lands Banks, which was in the centre of the financial crisis of 2008–09; Continuing attempts to reorganise the Deutsche Bank which was and is in continued failure of profits; The decrease in inter-banking credits on the background of expected abandonment of the policy of “quantitative easing”
The leading banking institutions of the country such as Deutsche Bank and Commerzbank are in a hard financial situation
Все это свидетельствует о том, что процессы секьюритизации получили в Германии значительно меньшее развитие не только по сравнению с США и Великобританией, но и с большинством стран континентальной Европы
Summary
Цель статьи — проанализировать особенности современного состояния банковского сектора и фондового рынка ФРГ. Земельных банков, продолжающиеся поиски путей санации терпящего убытки Deutsche Bank, сокращение объемов межбанковского кредитования на фоне предстоящего свертывания политики «количественного смягчения» ЕЦБ — таковы лишь некоторые черты развития банковской системы Германии в последние годы. На основе анализа публикаций ЕС, ЕЦБ, Бундесбанка, профильных германских ведомств, монографий и статей российских и зарубежных авторов в настоящей публикации показаны изменения в структуре банковского сектора ФРГ, сильные и слабые стороны фондового рынка Германии. Автор использовал системный и историко-статистический подходы, что позволило проанализировать тему исследования комплексно, в ее динамике, систематизировать статистические данные, сформулировать некоторые выводы относительно возможных сценариев дальнейшего развития событий. Результаты данного исследования могут быть полезными при оценке долгосрочных перспектив социально-экономического и инновационного развития Германии, которая остается крупнейшей экономикой Евросоюза. Е. Роль банков и фондового рынка в экономике Германии.
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