German Model
摘要
The Complete Integration or German model identifies a financial conglomerate that can offer insurance, banking, and securities services within a single entity. Universal banking, largely rooted in Germany due to historical and somewhat philosophical factors, expanded across the European Community following the Second Banking Directive and the Investment Services Directive. The initial part of this chapter explores the essence of universal banking, its origins, and provides a brief historical overview of its development in Germany. The subsequent section examines the interconnectedness between banking and industry in Germany, as well as the three pillar banking structure characteristic of the German financial system.