Ewa Miklaszewska - Böcker

The monograph presents a comprehensive analysis of the impact of the COVID-19 pandemic on European banking, both at a macro and a micro level. It analyses the impact of the pandemic on bank stability, performance and credit policies, as well as their strategic adjustments to the challenges brought about by the COVID-19 pandemic. The initial chapters analyze the various governmental responses to the pandemic. Topics of discussion include the scale and scope of the wide range of public policies undertaken to mitigate the consequences of the crisis, and their efficiency in limiting the negative impact of the pandemic on the economy. The results suggest that the extensive public interventions have been largely successful in averting the possible disastrous consequences for the financial sector on a macro level. On a micro level, the COVID-19 pandemic has disrupted the restructuring and recovery of the banking industry started after the 2008 crisis which has had a significant impact on economies around the world, arguably leading to a negative long-lasting effect on sustainable development. To examine this, the book focuses on the impact of the pandemic on bank lending policies, bank stability and performance, and on competitive position of the banks vis a vis the FinTech sector. Offering a thorough overview of the issues that banks will have to face as a consequence of pandemic related macroeconomic and industry adjustments, the book will be of interest to scholars, researchers and students of banking and finance as well as banking specialists concerned with the impact of crises on financial markets, risks and resilience.

The monograph presents a comprehensive analysis of the impact of the COVID-19 pandemic on European banking, both at a macro and a micro level. It analyses the impact of the pandemic on bank stability, performance and credit policies, as well as their strategic adjustments to the challenges brought about by the COVID-19 pandemic. The initial chapters analyze the various governmental responses to the pandemic. Topics of discussion include the scale and scope of the wide range of public policies undertaken to mitigate the consequences of the crisis, and their efficiency in limiting the negative impact of the pandemic on the economy. The results suggest that the extensive public interventions have been largely successful in averting the possible disastrous consequences for the financial sector on a macro level. On a micro level, the COVID-19 pandemic has disrupted the restructuring and recovery of the banking industry started after the 2008 crisis which has had a significant impact on economies around the world, arguably leading to a negative long-lasting effect on sustainable development. To examine this, the book focuses on the impact of the pandemic on bank lending policies, bank stability and performance, and on competitive position of the banks vis a vis the FinTech sector. Offering a thorough overview of the issues that banks will have to face as a consequence of pandemic related macroeconomic and industry adjustments, the book will be of interest to scholars, researchers and students of banking and finance as well as banking specialists concerned with the impact of crises on financial markets, risks and resilience.

Financial crises are recurring events that expose weaknesses in risk management, regulation, and supervision. The 2008 financial crisis demonstrated the systemic nature of banking crises and the high cost of taxpayer-funded bailouts, leading policymakers to reform crisis-management frameworks. In the European Union (EU), these reforms included the Banking Union and the Bank Recovery and Resolution Directive (BRRD), which aimed to reduce reliance on public funds and address the “Too Big to Fail” (TBTF) problem. However, the framework has proven less effective for small and medium-sized banks, and recent stress episodes have revealed some inefficiencies, prompting further reforms through the Crisis Management and Deposit Insurance (CMDI) directive.This book examines lessons from past bank failures and evaluates the effectiveness of the EU’s post-2008 resolution regime. It combines conceptual analyses with empirical case studies from Europe and the United States, exploring systemic risk, the TBTF dilemma, and the practical challenges of resolution. The cases highlight successes, controversies, and persistent weaknesses, such as liquidity provision, deposit-insurance fragmentation, and the treatment of smaller banks. Overall, the volume argues that although significant progress has been made, bank resolution remains a complex political and institutional challenge, and further reforms are needed to ensure a credible and effective framework for both large and smaller banks.The book is aimed at scholars, researchers and advanced students in the banking, finance and regulatory economics community, as well as regulators, policy makers and professionals working in central banks, supervision authorities, resolution agencies and deposit guarantee schemes.

This book discusses the transformation of the banking industry, particularly after a number of recent shocks: 2008 financial crisis, 2012 Euro-sovereign crisis, the pandemic COVID-19 crisis, the technological revolution, and reputational problems in banking due to climate risk and ESG (Environmental, Social and Governance) metrics.The book emphasizes two post-pandemic issues: the role of financial education and inclusive finance, and responsible banking and ESG priorities. Individual chapters analyse how the pandemic shed new light on social and governance responsibilities: Major issues include the importance and efficiency of financial education, and the impact of ESG programs on firms’ value, banks’ probability of default, bank business models and reputation risk. The book also addresses investors’ behaviour and the factors which may bias financial disclosure and reporting. By addressing whether the post-2008 crisis bank restructuring has effectively created a resilient and sustainable banking system – mostly from the European market’s perspective – the book will be of interest to researchers, academics, policy makers, and professionals of banking and financial institutions.

This book discusses the transformation of the banking industry, particularly after a number of recent shocks: 2008 financial crisis, 2012 Euro-sovereign crisis, the pandemic COVID-19 crisis, the technological revolution, and reputational problems in banking due to climate risk and ESG (Environmental, Social and Governance) metrics.The book emphasizes two post-pandemic issues: the role of financial education and inclusive finance, and responsible banking and ESG priorities. Individual chapters analyse how the pandemic shed new light on social and governance responsibilities: Major issues include the importance and efficiency of financial education, and the impact of ESG programs on firms’ value, banks’ probability of default, bank business models and reputation risk. The book also addresses investors’ behaviour and the factors which may bias financial disclosure and reporting. By addressing whether the post-2008 crisis bank restructuring has effectively created a resilient and sustainable banking system – mostly from the European market’s perspective – the book will be of interest to researchers, academics, policy makers, and professionals of banking and financial institutions.

This book offers a comparative analysis of how post-crisis restructuring has affected the evolution and prospects of small, locally-oriented banks. that is, countries with diversified banking systems, with a strong presence of cooperative and other forms of local banks.