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New Forms of Competition Facing the Spanish Banking System

In: The Changing Face of European Banks and Securities Market

Author

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  • Javier Quesada

Abstract

After the disruption caused by the 'deposit battle' fought in Spain by most banks, and to a lesser extent by savings banks, competing fiercely through vast increases in interest rates, the Spanish banking sector has seen in the last year and a half the emergence of new financial products that have caused a sharp shift in household portfolios. Pension plans, investment funds and the forthcoming Popular Savings Plans are three instruments aimed by the authorities to induce a higher saving rate. As is often the case, a special fiscal treatment gives rise to the explosion of an asset demand, which lasts until regulators change their objectives. In the meantime, the banking sector designs strategies to become a player in the new market situation so that it gets 'linked' to the disintermedia- tion process.

Suggested Citation

  • Javier Quesada, 1994. "New Forms of Competition Facing the Spanish Banking System," Palgrave Macmillan Books, in: Jack Revell (ed.), The Changing Face of European Banks and Securities Market, chapter 0, pages 47-56, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23141-6_3
    DOI: 10.1007/978-1-349-23141-6_3
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