How to Open a Bank Account in Spain

8 November 2017

Spain is one of the most popular destinations for expats around the world, especiallythose looking to retire. Although it's possible to live in Spain as a foreigner without having a local bank account,a bank account is needed to buy a property, pay household bills or buy an insurance policy.

Countries Which Will Not Automatically Exchange Account Information

6 November 2017

By the end of 2018, 96 jurisdictions will automatically exchange information on financial accounts for tax purposes. Hence, there still will be more than 100 jurisdictions which will not exchange the information automatically.

Automatic Exchange of Information on Financial Accounts

5 November 2017

On 29 October 2014, 51 jurisdictions signed a multilateral agreement to automatically exchange information on financial accounts and 44 more joined the agreement during the following years. This is the first ever agreement to exchange this type of information automatically.

Taking a Mortgage Loan in the Netherlands

1 November 2017

Traditionally dominated by domestic investors, Dutch housing markethas started attracting international investors as well. The Dutch government has taken severalmeasures to promote housing financing through mortgages, for example introducing of tax deduction on mortgage interest payments, providingNHG-backed mortgages, supporting a network of independent mortgage advisers.

Major Banks of Denmark

7 October 2017

Danish banking sector is characterized by large size in terms of total assets, high degree of concentration, and prevailing share of domestic banks over foreign-controlled banks. These characteristics are applied to major banks in Denmark as well.

Banks in Monaco

30 September 2017

Monaco is one of the world wealthiest nations in terms of GDP per capita withfinancial and insurance activities, being main contributors to its GDP.High concentration is high-net-worth individuals influences business focus of banks operatingin Monaco: Monegasque banks traditionally specializes in providing private banking,asset and wealth management services.

Offshore Banking in Montenegro

21 September 2017

Despite carrying substantial risks and lacking innovative banking products especially in private and investment banking, Montenegro is becoming an increasingly popular offshore banking destination. Montenegrin banks offer a variety of services for non-residents in retail and corporate banking, know-your-customer procedures are simple and straightforward, and Montenegro doesn't participate in Automatic Information Exchange.

Banks in Luxembourg

20 September 2017

Banking and financial services is one of the main industries of Luxembourg. Favorable legislation and taxation, stable social and economic environment make Luxembourg an attractive destination for foreign financial institutions.

Major Banks in the Netherlands

14 July 2017

Out of about 100 banks operating in the Netherlands, 3 largest banks account for two thirds of total banking assets with 7 next lagrest banks adding about 5%. The high degree of concentration combined with the diversity of products and services provided by these banks underlines the importance of these banks in the Dutch banking landscape.

Banking Sector of the Cayman Islands

20 June 2017

The Cayman Islands is an overseas territory of the United Kingdom, with one of the highest per capita incomes in the Caribbean. Since 1960s, the Cayman Islands transformed itself into a significant offshore financial center and a major supplier of cross-border financial services, particularly in banking.

Banks in Malta

9 June 2017

Since the 1980s Malta has followed a strategy of developing a financial services centre and over the last decade has transformed its banking sector from a tightly controlled publicly owned sector to the diversified and efficiently regulated one with high degree of liberalization and foreign ownership.

Building Societies in the United Kingdom

29 May 2017

Building societies are an important player in British housing finance, having their total market share of about 20% in mortgage lending. Building societies provide a wide range of mortgage and savings products to their customers at competitive interest rates.

Banks in the Channel Islands

19 May 2017

The Channel Islands are a group of islands situated in the English Channel, consisting of two British Crown dependencies: the Bailiwick of Jersey and the Bailiwick of Guernsey. Over the recent decades, banks have played a key role in the development of the Channel Islands as an international financial centre.

Banks in Estonia

28 April 2017

Located in Northern Europe, Estonia is a developed country with high-income economy. Estonian banking sector is relatively small, highly concentrated, with high share of foreign capital; large banks in Estonia operate as universal banks, covering a wide range of market segments, while smaller banks concentrate on a specific range of services.

Banks in Bulgaria

7 April 2017

Bulgarian banking sector is characterized by relatively small size, small number of banks with wide business focus, high degree of concentration and high share of foreign capital. 8 major banks in Bulgaria make up about 75% of total banking assets.

Banking Sector of the Isle of Man

15 March 2017

The Isle of Man is a well established international banking and finance center; banks operating on the Isle of Man cover the areas of retail banking, commercial banking, private and expatriate banking and offer their products and services to a broad range of clients.

Credit Unions in Ireland

27 February 2017

Credit unions have been in existence in Ireland for more then 50 years, they play an important role in the Irish financial sector. There are around 380 registered credit unions with total assets of €14,3 bln (2014) providing services to over 3 mln members.

Changes in Swiss banks in 2015

16 September 2016

In 2015 banks in Switzerland faced negative interest rates and currency interventions of Swiss National Bank as well as tightened capital requirements and anti tax avoidance regulations. This made the banks shift their business focus from international private banking to domestic retail and corporate banking.

Cantonal Banks

21 August 2016

Cantonal Banks, accounting about 30% of Swiss banking sector, are universal canton-owned banks, specializing in retail and corporate banking products for the residents of their canton. Liabilities of the majority of the Cantonal Banks are guaranteed by the owning canton.

Stress Test of European Banks 2016

2 August 2016

On Friday, 29 July 2016, European Banking Authority (EBA) published the results of EU-wide stress test of the largest European banks. The stress test 2016 assessed 51 banks from 15 EU and EEA countries.

Offshore Banking in Latvia

25 April 2016

Latvia is a small but an important offshore banking center in the European Union. Latvian banks offer a variety of services for non-residents in retail, private and corporate banking as well as online trading and brokerage, know-your-customer procedures are simple and straightforward, several banks offer online account opening.

Deposit Guarantee Schemes in Europe

2 January 2016

Deposit Guarantee Schemes compensate certain deposits (so called eligible deposits) held by depositors of a bank in the case of the bank failure. This article summarises details about deposit guarantee schemes the most important from a depositor's point of view.

FATCA and European countries

8 September 2015

Foreign Account Tax Compliance Act (FATCA), which became law in 2010 in the United States, is important achievement in US efforts to cope with tax evasion by US taxpayers having their accounts and other financial assets outside of the US. For now, almost all European countries have signed Intergovernmental Agreements to facilitate FATCA-reporting or have their financial institutions registered with the Internal Revenue Service (tax authority of the United States).

Changes in Swiss banks in 2014

13 August 2015

Financial crisis 2008/2009 followed by sovereign debt crisis, triggered radical transformations in the world financial markets. Swiss banks are successfully adopting their strategies to the new environment: althought the number of banks decreased in 2014, the aggregated annual profit and total assets continued to increase.

Cooperative Banks in Italy

30 July 2015

Cooperative banks are non-for-profit organizations providing financial services to its members and serving the needs of local community. In Italy the nework of cooperative banks consists of nearly 400 banks with more than 4000 branches operating in about 100 provinces and 2700 municipalities.

Financial Data of European Banks: What Do National Supervisors Want to Share?

18 June 2015

While European Central Bank started to directly supervise 123 significant banks of the Euroarea countries, there are more than 6,000 banks operating in the European Union left for the supervision by their National Supervisors. This makes transparency of information provided by the National Supervisors about individual banks an important factor contributing to the transparency of the whole European financial system.

Corporate Banking

24 May 2015

Corporate banking is providing banking and financial services to business clients and non-commercial organizations. Corporate banking covers a variety of business needs with a full range of financial solutions: payments cash management, financing, managing surplus, debt and equity management.

Retail Banking

28 April 2015

Retail banking is a key component of banking industry, offering mass-market banking services to natural persons and small businesses. Retail banking provides three important functions to its clients: credit, deposits and money management.

Private Banking

31 January 2015

Private banking is banking, investment and other financial services provided by banks to high-net-worth individuals having high levels of income or sizable assets. Products and services provided by the bank are rendered on a more personal basis than in mass-market retail banking.

Stress Test of British Banks

4 January 2015

In December 2014 the Bank of England published the results of the stress test of major British credit institutions. The test covered 8 banks and assessed the impact of a variant of the EU-wide adverse scenario.

25 Banks Which Failed ECB Test

28 October 2014

In October 2014 European Central Bank conducted an assessment of 130 major European banks from 19 countries. The assessment consisted of two parts: asset quality review and stress test.

Deposit Guarantee Schemes in European Territories

13 October 2014

Several European countries have dependent territories which are geographically separated from these countries. Amongst more than 30 such territories, only 10 provide offshore financial services.