Counting the cost

Bank disintermediation

Everybody agrees that bank disintermediation in Europe is inevitable, but the pace at which it will happen is rather less certain. Do changes in loan margins in Europe provide an indication that disintermediation is today firmly taking hold? And in that key European market, Germany, what evidence is there of corporates taking to the bond market as relationship lending becomes eroded? Until recently, disintermediation in Germany has hardly ranked as a phenomenon to sit up and take note of, bu

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: