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The article presents research paper about the methodological inquiry of how to measure the real value of the real output of bank services. It states that the paper shows that the bias of the deflated-balance series differs across types of bank services, countries and over time. Moreover, it notes that the official estimate of European bank output growth is most probably biased relative to that of the U.S.

One of the most important components of the European financial system is represented by the banking sector, especially in the case of the new EU member states, where the economy is almost exclusively financed through this channel. The banking integration process thus has a vital importance for the creation of a fully functional and efficient European Union. In this context, the aim of our research is to underline the main characteristics regarding the development and integration of the new EU member countries banking sector, especially taking into account the recent events determined by the global financial crisis and its aftermath. In order to achieve this, we have used a qualitative analysis based on structural indicators of the banking system that underline the main characteristics of the analysed countries. [ABSTRACT FROM AUTHOR]