Stylized data shows a structural break in the integration of lending markets which coincides with the global financial crisis. During and after the crisis, banks actively reduced their share of foreign relative to domestic banking activity and lending in particular. This increase in lending...

In 2018, the Insurance Distribution Directive (IDD) was fully implemented by all EU member states. It intends to harmonize the insurance market, provide the right incentives for the agents and protect the consumers. But why? The core business of the banking sector makes it necessary for a...

We study the macroeconomic effects of bank capital requirements in an economy with two banking sectors. Banks are connected through a wholesale funding market. Anticipated banking crises occur endogenously in the form of self-fulfilling wholesale funding rollover crises. Retail bank capital...