Public Financial Institutions in Europe 1 Mathias Schmit Brussels, 11 th October 2011.

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Presentation transcript:

Public Financial Institutions in Europe 1 Mathias Schmit Brussels, 11 th October 2011

Public Financial Sector in the EU Who? What? Why? How?

Who? 3

Levels of public involvement in the European financial industry

What? 5 Objectives Economic development Financial inclusion Sustainable development Agriculture Infrastructure Export Promotion Etc. Stakeholders General public Customers Shareholders SMEs Public Entities Etc. Geographic scope Local National International Products and services Retail banking Commercial banking Mortgage banking Public banking Guarantees and insurance Subsidies Etc.

Why? 6 Mitigate negative externalities Maximise positive externalities Compensate the private sectors short-sightedness Preventing capital drain from poorer to richer regions Jump-starting financial development to avoid desintermediation

How? 7 Description of main business models in the EU27+5 National and Regional Development agencies Municipal Credit Institutions Export Credit Agencies Public Savings banks Long-term investors Public Financial Intermediaries

EAPB study fills a wide gap in the literature PFI are not defined (essentially based on ownerships) Studies mainly on performance – Results quite mitigated (diverging opinions) – Without any ex-ante links to their missions / roles / business models 8 => This study includes a complete sector analysis

Key Messages Key roles of the public financial institutions – in a volatile environment – Multiple functions – Mutiple business models Multi-dimensional performance metrics for public financial institutions – Multiple bottom lines Outreach Adequate financial metrics Risk vs. retuns Efficiency vs. effectiveness – Be aware of dogmatic thoughts and one fits all approach – In view of Basel III Examples - Illustrations

Thank you for your attention 10 Contact details Mathias Schmit Managing Director SAGORA Prof. Solvay Brussels School of Economics and Management Mobile: