By Daniela Vandone
Consumer credits has turn into a topical factor for researchers, regulators and the banking in Europe due to expanding industry integration, regulatory alterations and a becoming tendency of families to take advantage of debt to finance intake. This research makes use of a cross-country method of examine a large diversity of concerns on the topic of purchaser credits in Europe. concentrating on either the provision and insist facets, it takes into consideration the constitution and function of economic intermediaries, the socio-demographic and financial profile of families and their chance of over-indebtedness, in addition to the regulatory framework, akin to the hot shopper credits Directive. within the gentle of this research, measures for the prevention and administration of over-indebtedness are offered. This ebook is key for postgraduate scholars and experts in monetary associations, for regulators and policy-makers who're accountable for potency and balance of economic systems.
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Extra info for Consumer Credit in Europe: Risks and Opportunities of a Dynamic Industry
8%, is the only new entrant to record a figure higher than the EU-15 average. This can be put down, on the demand side, to strong economic growth and rising salaries and, on the supply side, high interest margins on retail lending that make this segment particularly attractive (Bulgarian National Bank 2007). Another significant characteristic of the Bulgarian situation is that a part of unsecured borrowing by households is used to funding small enterprises rather than financing domestic spending.
The income variable is also in line with findings presented in the literature (Crook 2006; Fabbri and Padula 2004): the percentage of individuals holding unsecured debt rises with higher incomes. In particular, in the United Kingdom and Italy, the proportion of individuals with debt commitments reaches a peak for individuals and households at the fourth income quartile, whilst in Spain at the third quartile. Higher income levels are probably less volatile, a fact that leads to increases from both the credit supply and demand sides.
1 Introduction Since the mid 1980s consumer credit has grown rapidly in most European countries. However, the amounts borrowed by households as a proportion of income differ widely from country to country. These differences can be ascribed to a variety of factors, some of which have been extensively analysed in the literature,1 that influence the demand for and supply of credit and, consequently, the size of national household credit markets. In this chapter we will examine, through the use of macroeconomic data, the evolution of national consumer credit markets.