Banks
Banks
The great surge of Japanese FDI in the late 1980s provoked powerful fears among many in the banking sector of the unifying European community. Japanese multinationals had mounted major challenges to EC automobile and consumer electronics manufacturers in Community markets. To explore these and related issues, this chapter examines in particular the creation of relevant portions of the Second Banking Coordination Directive (2BCD), the central piece of legislation which dealt not only with matters of internal financial integration, but also with the entry and operation of Japanese and other non-EC banks in the Community after 1992. This chapter first examines certain salient characteristics of the EC banking industry together with the development of Japanese banks in Europe evoking EC policy responses. Next, the process of crafting key provisions of the 2BCD as well as resulting outcomes and denouements is examined. Finally, this chapter compares and contrasts European and American policies towards their respective Japanese banking challenges.
Keywords: automobile, consumer electronics, Second Banking Coordination Directive, 2BCD, banking industry, banks
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