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How competition and regulation drive bank and investment fund risk profiles and their market shares

Author

Listed:
  • Grill, Michael
  • Kalyaeva, Daria
  • Lambert, Claudia

Abstract

The rapid growth of the asset management sector over recent years has raised questions about the interaction between traditional banks and investment funds, as well as the drivers behind this trend. Our analysis contributes to this debate by shedding light on the implications of increased competition between the two sectors. We first examine how competition between banks and investment funds drives the risk profiles and market shares of these two sectors. In a second step, we assess whether and how capital requirements for banks influence the relative market shares of the two sectors, contributing to both the analysis of the drivers behind the structural developments in the euro area financial sector and the work on the evaluation of the impact of post-crisis reforms. JEL Classification: G21, G23, G28

Suggested Citation

  • Grill, Michael & Kalyaeva, Daria & Lambert, Claudia, 2018. "How competition and regulation drive bank and investment fund risk profiles and their market shares," Macroprudential Bulletin, European Central Bank, vol. 5.
    • Handle: RePEc:ecb:ecbmbu:2018:0005:2
    Note: 1280809
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    File URL: https://www.ecb.europa.eu//pub/financial-stability/macroprudential-bulletin/html/ecb.mpbu201804_02.en.html
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    More about this item

    Keywords

    asset management; banking; capital requirements; competition;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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