Search

Different methodological approaches and hypotheses relative to the relationship between ownership structure and performances in cooperative banking generate contrasting findings, so motivating this innovative study which is grounded on an estimation approach allowing for the potential endogeneity of the membership base. Based on a sample of 241 Italian small cooperative banks over the 2013–2018 period, we find that bank profitability is positively affected by the membership as in the study conducted by Jones and Kalmi (2015) on Finnish cooperative banking and different from the comparable Austrian empirical research of Gorton and Schmid (1999). Unlike the latter we did not find an increasing exposure to agency costs as ownership dispersion grows and showed that greater membership raises individual bank financial stability, lowering the cost of credit risk

Lietuvos kredito unijų įstatymo pakeitimai, kaip esminis kredito unijų sektoriaus pertvarko elementas, įsigaliojo nuo 2018 m., todėl tampa aktualu įvertinti, kokį poveikį jie turės visam sektoriui, žvelgiant iš kredito unijų ekspertų perspektyvos. Amendments to the Law on Credit Unions in Lithuania, as an essential element of the restructuring of the Credit Union Sector, entered into force in 2018, therefore it is getting relevant to assess the impact of these changes on the whole Sector from the perspective of Credit Union experts.

Purpose: The purpose of this paper is to study the awareness level and utilization of various cooperative banking services in rural area especially Dakshina Kannada district of Karnataka. In India, most of the states are agriculture dominated, especially in rural area, cooperative banks play a key role in bolstering the common individual and financing his self -employment/business and personal needs. The awareness and effective utilization of various rural banking services will improve the financial inclusion statistics of the country. To assess the awareness level, 27 services and schemes offered by the cooperative society are taken and classified into different factors. The awareness levels of rural Muslims are compared with different demographical profile to know the difference. Methodology: Data was collected through a structured questionnaire and distributed among rural Muslims cooperative bank account holders. The study is descriptive in nature and data was collected from 398 rural Muslims of five taluks of Dakshina Kannada district. To draw meaningful inferences, scales for reliability, normality assumption, Mann Whitney U and Kruskal-Wallis test were used to analyze, compare and interpret the data. Findings: The results indicate that there are no significant differences among the economic status, income and sub-caste regarding awareness of cooperative banking services and schemes. However, there is a significant difference among the age, residence and occupation regarding awareness of cooperative banking services and schemes. Originality: It may help the service provider to implement services and schemes according to the needs and profile of the rural households in the rural area, in order to have effective utilization of services and to raise the standard of living. Practical Implication: The findings of the study will help the various stakeholders to overcome the problem of financial inclusion especially in rural areas and help to provide need-based financial service to the rural households in the country. Paper Type: Analytical Research

The reasons proposed in the extant literature for the emergence of boerenleenbanken (Dutch Raiffeisen cooperative banks) at the turn of the twentieth century fall into three categories: (1) to meet untapped market demand; (2) as an organizational response to economic and technical change; and (3) as an extension of socio-religious confessional politics. I use business history case studies of boerenleenbanken established in the neighbouring villages of Loosduinen and Rijswijk to weigh the relative importance of these accounts. While all three play a part in explaining the market entry of this new type of banking business, I conclude that the third reason was probably critical; boerenleenbanken should be viewed as a component of the wider movement towards the economic confessionalization of the Netherlands

The diploma thesis deals with civic credit unions in Telč between the years 1867 and 1914. It outlines briefly the historical development of credit unions in the Czech lands, which is supplemented by a description of the legal standards that regulated establishment and administration of credit unions during the period of our interest. Then follows the characteristics of the city Telč in terms of administrative integration, population, education, culture and economy. The key chapters are devoted individually to civic credit unions in Telč, namely Vzájemná záložna (Mutual Credit Union), Úvěrní jednota pro hospodářství, obchod a průmysl (Credit Unity for Economy, Trade and Industry) and Spořitelní ústav (Savings Institute). There are presented historical development, membership bases, financial and public benefit activities of the mentioned financial institutions. The list of sources and bibliography, the list of abbreviations and appendices, which contain mainly nominal lists of members directorates and committees of Telč credit unions, are an integral part of the thesis.

This article focuses on the importance of bank branches in the financial inclusion of the territory, regardless of whether the digitalization partly favours the provision of services. Assuming this premise, this paper reviews the factors determining the reduction of bank branches at a provincial level during the most severe period of the Great Recession (2008-2013). Using cluster analysis, the trends of reduction of the branches network are analysed considering the different categories of banking entities. The results indicate that the intense contraction of the saving banks’ branch network was compensated by a partial absorption of branches by commercial banks, which remained in dynamic and urban areas, where also raised the risk of bank discrimination due to socioeconomic inequality. Meanwhile, cooperative banking sustained rural and aging areas, expanding its own network and taking advantage of the empty spaces left by the savings banks. The conclusions reflect on the reasons that have justified the reduction of the branch network, considering the new European regulatory framework, which guarantees citizens access to a bank account and promotes new financial inclusion strategies. Finally, the paper highlight the principles that gave rise to social banking, analysing their applicability in the post-crisis environment. Este artículo se centra en la importancia de las sucursales bancarias para la inclusión financiera del territorio, con independencia de que la digitalización favorezca en parte la prestación de servicios. Partiendo de esta premisa, este trabajo revisa los factores que a nivel provincial determinan la reducción de sucursales bancarias en España durante el periodo de mayor intensidad de la Gran Recesión (2008-2013). Mediante un análisis clúster se analizan especialmente las diferencias entre tipologías de entidades bancarias - así como entre entidades particulares-, respecto del proceso de reducción de la red territorial. Los resultados indican que la intensa contracción de la red de sucursales de las cajas de ahorro fue compensada por una absorción de parte de esa red por la banca comercial, que se mantuvo principalmente en zonas dinámicas y de carácter urbano, donde también aumentó el riesgo de discriminación bancaria por la desigualdad socioeconómica. Mientras, la banca cooperativa sostuvo las zonas rurales y envejecidas, llegando a ampliar su propia red y aprovechando los espacios vacíos dejados por las cajas. Las conclusiones reflexionan sobre los motivos que han justificado la reducción de la red de sucursales y proponen la consideración del nuevo marco normativo europeo, que garantiza el acceso de los ciudadanos a una cuenta bancaria y promueve nuevas estrategias de inclusión financiera. Finalmente, se presta atención a los principios que dieron origen y desarrollaron la banca social, a su actualización y aplicabilidad en el entorno post-crisis.

Kooperatifler, varoluşlarından bu yana birlikte yaşayan toplumların ortak ihtiyaçlarını giderebilmek için bir araya geldikleri demokratik kuruluşlardır. Büyüyen dünya ekonomisi içerisinde kooperatiflerde varlıklarını sürdürebilmek ve rekabet edebilmek için finansmana ihtiyaç duymuşlardır. Hem kendi bağımsızlıklarını korumak hem de finansal sorunlarını çözebilmek adına Kooperatif Bankaları kurulmuştur.19.yüzyılın başından itibaren Kooperatif Bankaları ekonomik sistem içerisinde varlıklarını göstermiş birçok ülkede de ekonomik kalkınma veya krizlerle mücadele noktasında etkin rol oynamışlardır. Ancak dünya ekonomisinde önemli bir yere sahip olan İslam dünyası ve onun bir parçası olan ülkemiz için aynı sözleri Kooperatif Bankacılığı özelinde söylemek maalesef mümkün değildir.Bugün 1,5 milyardan fazla Müslüman yaşayan dünyamızda toplumların temel ihtiyaçları farklılıklar göstermiş, gelişen ekonomilerle rekabet, yetersiz sermaye gibi unsurlar, bu insanların ekonomik faaliyetleri sırasında finansal ihtiyaçlarının da artmasına neden olmuştur. Özellikle 1950'lerden sonra bu finansal ihtiyaçların çözümü için yapılan arayışlar bugünkü ismi ile Katılım Bankalarını ya da İslami Banka ve Finans kuruluşlarını ortaya çıkarmıştır. Katılım bankalarının gerek Dünyada gerekse Türkiye de ki uygulamalarına baktığımızda son zamanlarda Kamu tarafından açılanlar dikkate alınmadığında daha ziyade özel sektör kuruluşları olduğu, yani toplumsal bir hareketin ya da inancın organize bir hareketinin sonucu olmadıkları görülmektedir. Oysa böylesi kabul gören ve kökleri olan İslam dininin mensuplarının bu konuda daha proaktif olmaları beklenirdi.Bu çalışma ile kar ve zarar esasına dayalı bir finansman modeli olan Katılım Bankacılığı ile, dayanışma ve birlikte kalkınma amacıyla kurulan Kooperatifçilik faaliyetlerinin konsolide edilerek ülke ekonomisine, kooperatiflerin finansal sorunlarına ve Katılım Bankacılığının büyümesine katkı sağlayabilecek yeni bir finansal model olarak `kooperatif Katılım Bankacılığı` sistemini inceleyeceğiz.Anahtar Kelimeler: Kooperatifçilik, Katılım Bankacılığı, Kooperatif Katılım Bankacılığı, Kooperatif Bankaları Cooperatives are democratic organizations in which people come together to address their common needs. In the growing world economy, cooperatives have come to be in need of financing in order to survive and compete. Cooperative banks have been established to protect the independence of cooperatives and solve their financial problems.Since the 19th century, cooperative banks have existed within the economic system, playing an effective role in driving economic development and combating crises. However, it is hard to assert the same for the Islamic world as well as our country as its member although the Islamic world has an important place in the global economy.Today, more than 1.5 billion Muslims live around the world, and basic needs of communities have changed, and the need for competing with developing economies and lack of sufficient capital have caused these people to face with increased financial needs during their economic activities. The search for solutions to these financial needs after 1950s has led to the emergence of participation banks or Islamic banks and financial institutions. Examination of the practices concerning participation banks in Turkey and around the world reveals that excluding those recently established by the state, they are primarily private sector institutions, that is, they are the result of a social or belief-based movement. However, followers of Islam as a widely practiced and deep-rooted religion are supposed to be more proactive in this field.This study aims to examine cooperative participation banking as a new financial model which may contribute to the solution of the financial problems of cooperatives and the growth of participation banking and consolidate the activities of the cooperatives which are established for solidarity and collective development purposes through participation banking as a financial model based on principles of profit and loss.Keywords: Cooperatives, Participation Banking, Cooperative Banking 121

A joint World Bank-IMF Financial Sector Assessment Program (FSAP) mission visited Poland from January 8–19, 2018 and May 7–18, 2018. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and development opportunities, and provides policy recommendations.

This technical note reviews the cooperative bank and credit union sectors. It focuses on: (i) thesituation of the two sectors that are both in states of transition; (ii) the regulatory and supervisory arrangements; and (iii) the safety net and resolution regime within the context of the crisis management framework. In addition, key perspectives are provided as to the sustainability ofinstitutional models and the sectors within a modernizing and competitive banking sector. This note was prepared using information from the authorities and market participants that was received in the first semester of 2018 at the time of the visit of the authors. Although in some instances there is subsequent improvement in the performance of some cooperative banks and credit unions, the authors believe such changes do not modify substantially the main conclusions and recommendations made. Most cooperative banks and credit unions are stable, but each sector has its own issues. The FSAP is broadly supportive of the policy direction for cooperatives, while it questions whether the credit union sector should remain standalone. Combined, cooperative banks and credit unions represent less than 8 percent of deposit takers, though more importantly they serve about 18 percent of the population.

Kırsal kesim tarafından kullanılan krediler kalkınmanın sağlanmasında önemli bir araç oldukları gibi, zaman zaman borçlanma nedeniyle üreticiler açısından olumsuz etkide de bulunabilmektedir. Buna karşılık birçok tarımsal faaliyetin finansmanı için kredi kullanımı kaçılmaz bir durum arz etmektedir. Bu çalışmada belirlenmiş ülkelerde ve ülkemizde tarımsal kredi piyasasının genel durumu, özel bankaların tarımsal kredi uygulamaları karşılaştırılmaya çalışılmıştır. Çalışma kapsamında belirlenmiş ülkelerde tarım sektörüne kısaca değinilmiş ve kredi piyasalarının genel durumu anlatılmaya çalışılmıştır. Ülkemizdeki özel banka uygulamaları da ayrıca detaylı olarak paylaşılmıştır. Ayrıca ülkemiz ile belirlenmiş ülkelerdeki tarımsal kredi uygulamaları karşılaştırılmış ve ülkemize dair eksiklik ve sorunlar belirlenmeye çalışılarak çeşitli öneriler sunulmuştur., Agricultural credits is an important tool for rural development, but it's also possible to cause a negative effects on farmers because of over indebtedness. However, the use of agricultural credit is unavoidable situation for financing many agricultural activities. In this study it's aimed to compare agricultural credit market conditions and agricultural loan practices of commertial banks in selected countries and in Turkey. For this purpose, agricultural sector conditions are being analysed and agricultural credit markets are being explained. Next to that commertial banks agricultural credit conditions in Turkey are related. After this settlement Turkey's agricultural credit market problems are indicated and some constructive suggestions are shared.

Our aim is to empirically assess differences in behaviour and performance of European cooperative and commercial banks in a low interest rate environment. We employ dynamic panel data methods to assess the relative performance of both ownership structures based on a data set of nearly 1,000 banks from 11 European countries for the 2009-2015 period. Our findings are threefold. First, we find that commercial banks are more profitable than cooperative banks in all three metrics used (return on average assets, return on average equity and net interest margin). Second, commercial banks decrease their loan loss provisioning to maintain their profitability. Interestingly, this trend is not present in the financial statements of cooperative banks. Third, cooperative banks are significantly more stable than commercial banks in terms of Z-score. In addition, the Z-score of cooperative banks increased during the observation period, whereas the Z-score of commercial banks remained stable. Therefore, our results show structural differences in the priorities and behaviour of both ownership types in a low interest rate environment: European commercial banks focus on maintaining their profitability, whereas cooperative banks seek to increase their stability by increasing their capital buffers.

This chapter aims to give a general introduction on cooperative banking in Europe. To do that, it first gives an overview on the key inherent characteristics of cooperative banks. Second, it analyses the main phases of their development in Europe. Third, it discusses the actual presence of cooperative banks over the continent in terms of size and geographical distribution. Finally, it summarises the relevant existing literature. Overall, the systemic relevance and countercyclical attitude of cooperative banks as well as their crucial role in fostering relationship lending practices are highlighted.

2008 yılında yaşanan küresel finansal kriz, faiz hadleri seviyesinin düşük olduğu bir zamanda gerçekleşmiştir. Varsayım gayrimenkul fiyatlarının hiç düşmeyeceği şeklindedir. Bankalar ya da aracı kuruluşlar geri ödeme riski yüksek olan kişilere peşin teminatlarla gerekli risk analizi yapmadan verdiği konut kredileriyle başlamıştır.Bu krizin etkisinin reel sektöre de yansıması sonucunda kooperatifler de etkilenmiştir. Dünyadaki kooperatifler incelendiğinde krizden etkilenmediği ancak Türkiye'deki kooperatiflerin krizin etkisiyle kapanmalar yaşadığı görülmektedir. Bu çalışmanın amacı 2008 krizinin kooperatiflere etkisinin araştırılmasıdır. Araştırma sonucunda dünya kooperatifleri incelenmiş olup, kooperatif cirolarında bir azalma meydana gelmemiştir. Finansal kaynaklı kriz olmasına rağmen kooperatif bankaları bu krizden etkilenmemiştir. Bu krizler sonrasında ülkemizdeki tarımsal kooperatifler olumsuz yönde etkilenmişlerdir. The finansal crisis which happened in 2008 was in a time when the interest rate levels were low. The supposion is that the price of reale states will never fall down. The banks have started by giving housing loans with advance security to the people who has risk of paying back. With the reflection of crisis to real sector, cooperatives has was effected too. When were search cooperatives globally, we can see that the cooperatives in other parts of world wasn't affected as our country did. For example, in Turkey some cooperatives were even closed due to crisis. The aim of this study is to discover the effects of crisis to cooperatives. With results of our research, it is clear that there hasn't been a decrease in endersoments of cooperative banks. Althought it was a crisis which is financially based on the cooperative banks wasn't effected by this crisis. After that crisis farm cooperatives was badly effected because of that crisis. 132

This paper investigates the size-efficiency relation of European cooperative banks during the 2006-2015 period. We employ the Stochastic Frontier Analysis in order to obtain inefficiency estimates and its determinants on the set of 183 cooperative banks from 12 European countries. This work extends the existing literature by focusing on shape of size-efficiency relationship and examining also the post-crisis period after the fall of Lehman Brothers in 2008. Our results show that smaller European cooperative banks are significantly more cost efficient than their bigger peers and that the size-efficiency relation is linear. Interestingly, inefficiency remained roughly stable during the whole observation period without any substantial changes, not even on sub-samples of individual countries. These results imply that no significant consolidation of European cooperative banks can be expected in the near future. We conclude that for cooperatives, it is more efficient to remain small in size rather than to expand. From a policy perspective, we recommend regulators to reflect special nature of cooperative banks and allow them to operate at a small scale enabling their efficiency. As a result, we believe that onesize-fits-all regulation is harmful for efficient operations of cooperative banks in Europe.

Cooperatively-owned Raiffeisen banks first emerged in the Netherlands in the late 1890s and spread rapidly across the country. Using a new dataset, we investigate the determinants of their market entry and early performance. We find that the cooperative organisational form, when allied to a change in the structure of Dutch agriculture and the socioreligious pillarisation of Dutch society, was an important factor explaining their entry into rural financial markets. While religious organisations provided a necessary impetus for the emergence of Raiffeisen banks, the economic advantages associated with the cooperative organisational form ensured the subsequent survival and success of these banks.

While functioning in accordance with the new, business and efficiency-oriented operating model, credit unions develop and begin functioning outside the community. It is universally recognised in scientific literature that as credit unions expand their activities beyond a community, social relations with credit union members weaken and the credit unions lose their social control element, which help them to better assess and manage information asymmetry and credit risk. So far, the analysis of problems of credit risk assessment in the context of credit unions has been limited. The thesis offers a theoretical concept to create a model for credit risk assessment, which allows selecting model creation methods and data so that the make the created model meet the business needs of the creditor. In line with the proposed concept, analyses from three perspectives were performed. In performing analysis from a creditor's perspective, a survey (interview) of 56 credit unions, structural analysis of the sector of credit unions, and analysis of the business loan portfolio of credit unions were conducted. In performing analysis from a modelled segment's prospective, i.e. that of small and very small enterprises, a statistical data sample, which incorporated financial and non-financial data of the enterprises, was formed and analysed. In performing analysis from an external factors' prospective, the external information structure of credit unions and regulatory requirements were analysed. The conducted research allowed creating a statistical model for the assessment of the credit risk of enterprises meeting the business needs of credit unions. The model creation methods were selected on the basis of an assessment of the specificity of a creditor's activities, risk tolerance, and applicable regulatory requirements. The model creation sample was formed with regard to a creditor's target crediting segment. The variables of the model were selected following a comprehensive analysis of scientific a d professional literature and assessment of the possibilities of its practical application based on the study of the external information infrastructure of credit unions. The formed scorecard of the model meets the recommendations of the Basel Committee on Banking Supervision. The cut-off point has been determined by statistical methods, on the basis of the specifics of the portfolio of business loans of credit unions, crediting margin and the LGD of the portfolio. The discriminatory power of the model has been assessed statistically and compared with the latest results of scientific research. The thesis proposes a method for the integration of the model in the decision support system of credit unions.

Dünyada olduğu gibi ülkemizde de finansal ve sosyal alanlarda kalkınma aracı olarak değerlendirilen kooperatiflerin ekonomiye katkıları ülkemizde göreceli olarak oldukça azdır. Kooperatiflerin ürettiği değerin, toplam katma değer içindeki payının büyük olmaması pek çok problemden kaynaklanmaktadır. Bu sorunların en başında ise finansal sorun gelmektedir. Özellikle oto finansman olanaklarının kısıtlı olması, kredi alımlarında karşılaştıkları sorunlar, mali yapılarının dar olması ve kredi maliyetlerinin yüksek olması gibi sorunlar kooperatiflerin güçlü finansal yapılara sahip olmalarının önüne set çekmekte hatta rekabet güçlerine bile etki etmektedir. Kooperatiflerin finansal kaynaklar kuramsal olarak öz kaynaklar ve yabancı kaynaklar olmak üzere iki temelden sağlamaktadırlar. Kooperatiflerin güçlenebilmesi ve finansal sorunlarını aşabilmesi ve güvenle yoluna devam edebilmesi için kooperatiflere yabancı kaynak çeşitlendirmesini sunabilmek gereklidir. Türkiye’de sürdürebilir yapısal değişimin sağlanması ve verimliliğin her alanda gerçekleşmesi için kooperatifler olmazsa olmazımızdır. Kooperatiflerin güçlenebilmesi ve finansal sorunlarını aşabilmesi ve güvenle yoluna devam edebilmesi için ne gerekiyorsa yapılmalıdır. Kooperatifçiliğin önündeki finansal pürüzler temizlenmelidir. Bu çalışma da kooperatif bankacılığının sistemi ve dünyadaki başarılı örnekleri dâhil kooperatiflere finansal katkı sağlayacak kaynaklar incelenmiştir. Ayrıca, kooperatiflerin güçlü zeminlerde hareket kabiliyetine kavuşmaları ve ülke ekonomisinde hak ettikleri yer olan zirveye taşınmaları için gerekli finansal tedbirler de tartışılmıştır., As it is the case in the whole world, the impact of cooperatives to the economy is relatively limited in our country, especially when they are widely considered as a financial and social development tool. The reason for the small share of the value that cooperatives produce in the total added value is the people’s experience with many issues. One such example is the financial problem. Especially lack of automatic finance possibilities, hardships in contracting loans, their limited financial structures and high loan costs negatively affect cooperatives’ cooperation strength and prevent them to construct strong financial structures. The financial supply of cooperatives theoretically comes from two areas; self and foreign resources. For strengthening cooperatives and enabling them to solve their financial issues, it is essential to supply them a diversified foreign resource. Cooperatives are a must in achieving sustainable structural reforms and efficiency in all areas of Turkey. Everything must be done in order to strengthen cooperatives and enable them to overcome their financial issues and continue to exist in confidence. The financial burdens on top of cooperatives must be abolished. In this study, the cooperative banking system, its successful implementations and the sources that benefit cooperatives financially are investigated. Also, the financial measures that will enable cooperatives the ability to work in harsh conditions and carry them to the top spot that they deserve in the country’s economy are discussed.

This article investigates the impact of the socioreligious segregation of Dutch society on the asset allocation choices of rural bankers and the withdrawal behavior of their depositors during the early 1920s. Results suggest that cooperatively-owned Raiffeisen banks for both Catholic and Protestant minority groups could limit their exposure to a debt-deflation crisis, despite operating more precarious balance sheets than banks for majorities. Business histories demonstrate how strict membership criteria and personal guarantors acted as screening and monitoring devices. Banks serving minorities functioned as club goods, managing their exposure to the crisis by exploiting the confessionalized nature of Dutch society.

Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector., {"references":["L. Lepetit, E. Nys, P. Rous, A. Tarazi, \"Product diversification in the European banking industry: Risk and loan pricing implications,\" Working paper series, 2005 (online). Available at: http://ssrn.com/abstract=873490 or http://dx.doi.org/10.2139/ssrn.873490 (Accessed 1.8.2016).","P. E. Davis, K. Tuori, \"The Changing Structure of Banks' Income – An Empirical Investigation,\" Department of Economics and Finance Research Papers, Brunel University, 2000.","B. Williams, G. Rajaguru, \"The chicken or the egg? The trade-off between bank fee income and net interest margins,\" Australian Journal of Management, Vol. 38, No. 1, pp. 99-123, 2013.","ECB, \"EU banks' income structure\", 2000 (online). Available at: http://www.ecb.europa.eu/pub/pdf/other/eubkincen.pdf (Accessed 14.2.2015).","F. Moshirian, S. Sahgal, B. Zhang, \"Non-interest Income and Systematic Risk: The Role of Concentration,\" Australian School of Business, University of New South Wales, 2011 (online). Available at: https://www.newyorkfed.org/medialibrary/media/research/conference/2011/global_sys_risk/Non-interest_income_and_systemic_risk.pdf (Accessed 22.10.2016).","K. Ruzickova, P. Teply, \"Determinants of banking fee income in the EU banking industry - does market concentration matter?\" IES Working Paper 4/2015, IES FSV, Charles University, 2015.","K. Rogers, J. F. Sinkey, \"An analysis of nontraditional activities at U.S. commercial banks,\" Review of Financial Economics, Vol. 8, No. 1, pp. 25–39, 1999.","M. Firth, W. Li, S. S. Wang, \"The growth, determinants, and profitability of non-traditional activities of Chinese banks,\" The European Journal of Finance, 2013 (online). Available at: http://dx.doi.org/10.1080/1351847X.2013.791632 (Accessed 26.1.2016).","R. DeYoung, W. C. Hunter, \"Deregulation, the Internet, and the Competitive Viability of Large Banks and Community Banks,\" The Future of Banking, ed. Benton Gup, Westport, CT, Quorum Books pp. 173–202, 2003.\n[10]\tR. DeYoung, W. C. Hunter, G. F. Udell, \"Whither the community bank? What we know and what we suspect,\" Journal of Financial Services Research, Vol. 25, pp. 81–94, 2004.\n[11]\tR. DeYoung, T. Rice, \"Noninterest Income and Financial Performance at U.S. Commercial Banks,\" The Financial Review, Vol. 39, pp. 101–127, 2004.\n[12]\tS. Shahida, L. Abd. Ghafar, A. Sanep, \"A Panel Data Analysis of Fee Income Activities in Islamic Banks,\" Islamic Econ., Vol. 19, No. 2, pp: 23–35, 2006.\n[13]\tR. Busch, T. Kick, \"Income Structure and Bank Business Models: Evidence on Performance and Stability from the German Banking Industry,\" Schmalenbach Business Review 67, pp. 226-253, 2015.\n[14]\tJ. G. Kim, Y. J. Kim, \"Noninterest income and financial performance at South Korea banks,\" 2010 (online). Available at: http://www.apeaweb.org/confer/hk10/papers/kim_jingun.pdf (Accessed 4.2.2015).\n[15]\tJ. H. Hahm, \"Determinants and Consequences of Non-Interest Income Diversification of Commercial Banks in OECD Countries,\" Journal of International Economic Studies, Vol. 12, No. 1, 2008.\n[16]\tR. Ayadi et al., \"Investigating Diversity in the Banking Sector in Europe: Key Developments, Performance and Role of Cooperative Banks,\" Centre for European Policy Studies, Brussels, 2010.\n[17]\tE. Liikanen et al. \"High-level Expert Group on reforming the structure of the EU banking sector, European Commission, Brussels, 2012.\n[18]\tJ. M. Wooldridge, \"Econometric Analysis of Cross Section and Panel Data,\" MIT Press, Cambridge, 2002.\n[19]\tS. Nickell, \"Biases in Dynamic Models with Fixed Effects,\" Econometrica, Vol. 49, No. 6, pp. 1417–1426, 1981.\n[20]\tS. Bond, \"Dynamic Panel Data Models: A Guide to Micro Data Methods and Practice,\" Working Paper, Cemmap, 2002.\n[21]\tD. Holtz-Eakin, W. Newey, H. S. Rosen, \"Estimating Vector Autoregression with Panel Data,\" Econometrica, Vol. 56, No. 6, pp. 1371–1395, 1988.\n[22]\tM. Arellano, S. Bond, \"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,\" Review of Economic Studies, Vol. 58, pp. 277–297, 1991.\n[23]\tR. Blundell, S. Bond, \"Initial conditions and moment restrictions in dynamic panel data models,\" Journal of Econometrics, Vol. 87, pp. 115–143, 1998.\n[24]\tD. Roodman, \"How to Do xtabond2: An Introduction to \"Difference\" and \"System\" GMM in Stata,\" Working Paper, No. 103, Centre for Global Development, 2006.\n[25]\tF. Windmeijer, \"A finite sample correction for the variance of linear efficient two-step GMM estimators,\" Journal of Econometrics, Vol. 126, pp. 25–51, 2005."]}

International audience; During the banking crisis of the 1990s, French cooperative banks emerged as more resistant and efficient than joint-stock banks, which enabled them to improve their market share and increase their reserve capital. This subsequently became the keystone of the external restructuring that led to the transformation of cooperative banks into large universal banking groups. At the time, their competitive advantage relied mainly on a different approach to risk-taking, which was associated with their cooperative legal form and their specific governance model.However, the same features have clearly not prevailed during the financial phase of the most recent crisis. Whereas governance models in the banking sector have been deeply questioned, the original cooperative model has evolved differently within European countries, with a high level of hybridization in some and a very diffuse cooperative network in others. Some European cooperative groups have been damaged by the crisis, mainly because of the corporate and investment banking that formed part of their activity.Yet the recent crisis has revealed the importance of a resistant and resilient worldwide banking system and the diversity of legal forms and organizations could contribute to achieving this goal. In this paper, we assess the resistance and resilience of major joint-stock banks during the crisis and compare them to cooperative banks in different European countries and Canada. We conduct our analysis at an aggregated/consolidated level for these two categories of banks. Using different indicators (e.g., z-score, loans to the economy, return on equity) as dependent variables, we verify whether the cooperative form is synonymous with greater resistance or resilience, and whether the results may be explained by different organizational schemes in cooperative banking.

International audience; This study shows how institutional work contributes to institutional resilience in extreme operating environments (EOEs). The authors draw from a longitudinal analysis of the operations of Desjardins International Development (DID), a French Canadian nongovernmental organization (NGO) that, both before and after the major earthquake of 2010, supported the implementation of cooperative banking in Haiti. Building on a unique access to DID’s internal documents as well as on 49 interviews with DID employees, the authors highlight the ways in which political, technical, and cultural forms of institutional work triggered the emergence of social capital, which in turn supported the rise of new forms of institutional work that enabled institutional resilience. The results show how organizational activities focused on shaping institutions may have unintended effects that enable institutional resilience in EOEs, and demonstrate how the accumulation of institutional work by an organization contributes to the enhancement of its social capital.

Artykuł przedstawia zagadnienie zmian prawnych w zakresie wymogów co do kwalifikacji stawianych członkom zarządów i rad nadzorczych banków spółdzielczych, będących konsekwencją implementacji do prawa polskiego przepisów unijnej dyrektywy CRD IV. The article presents the issue of legal changes in the requirements for the qualification of the members of the management and supervisory boards of cooperative banks, as a consequence of the implementation to the Polish law of provisions of the EU Directive CRD IV. Artur Potocki

The beginnings of cooperative banking in Szadek, which is continued today in the form of the Cooperative Bank, date back to 1906. The initiator, organizer and the first chairman of the banking society was dr. Ignacy Lipiński. Until 1921 the bank operated as “Savings and Loan Society”, to be later transformed into “Cooperative Szadek Bank Ltd. in the town of Szadek”. In October 1930 the bank’s activity was suspended because of German occupation. The Cooperative Bank was reactivated in 1947; in 1950 it was transformed into the Municipal Cooperative Fund, and eight years later – into the Cooperative Fund. Since May 1962 this institution has been operating under the name “Cooperative Bank in Szadek”. In 1975 it was incorporated into the Food Management Bank. In July 1970 it was moved to a new building in Sieradzka Street in Szadek. Today the Bank has four branch offices: in Wodzierady, Goszczanów, Warta and Łask, and one bank office and a cashpoint in Szadek. Początki spółdzielczości bankowej, której dziś kontynuatorem jest Bank Spółdzielczy w Szadku, przypadają na rok 1906. Inicjatorem i organizatorem oraz pierwszym prezesem towarzystwa bankowego był dr Ignacy Lipiński. Do roku 1921 bank działał jako „Towarzystwo Pożyczkowo-Oszczędnościowe”, a następnie został przekształcony w „Bank Szadkowski spółdzielnia z ograniczoną odpowiedzialnością w mieście Szadku”. W październiku 1939 r. działalność banku została zawieszona z powodu trwającej okupacji niemieckiej. Reaktywowanie Banku Spółdzielczego nastąpiło w roku 1947. W 1950 r. spółdzielnia uległa przekształceniu na Gminną Kasę Spółdzielczą, a osiem lat później na Kasę Spółdzielczą. W 1961 r. przyjęła nazwę „Bank Spółdzielczy. Spółdzielnia Oszczędnościowo-Pożyczkowa”. Od maja 1962 r. do dziś instytucja działa pod nazwą „Bank Spółdzielczy w Szadku”. W roku 1975 bank został włączony w struktury Banku Gospodarki Żywnościowej. 18 lipca 1978 r. oddano do użytku nowy gmach Banku Spółdzielczego przy ul. Sieradzkiej w Szadku. Szadkowski bank w 1995 r. przystąpił do Zrzeszenia Regionalnego przy GBW S.A. w Poznaniu. Obecnie bank posiada cztery oddziały (Wodzierady, Goszczanów, Warta, Łask), jedną filię i punkt kasowy (Szadek). Publikacja przygotowana przy współpracy Ośrodka Badawczego Europejskiej Polityki Przestrzennej i Rozwoju Lokalnego UŁ

Czech credit unions have been yet criticized by both academics and regulatory representatives for its business based on moral hazard and excessive risk taking. This paper empirically assesses financial performance of Czech credit unions in relation with other European cooperative banks in terms of profitability and stability. To do that, we created a unique dataset of 283 cooperative banks from 15 European countries in the 2006-2013 period. System GMM method is employed as a main instrument of our empirical analysis and alternative panel data methods are used as supplementary techniques. Results revealed poor performance of Czech credit unions in terms of both profitability and stability. Moreover, adverse trends in stability measures of Czech credit unions are in sharp contrast to the tendencies in the rest of cooperative banks in our sample. To conclude, we argue that bigger Czech credit unions will face serious financial problems in coming years.

La reforma propuesta por la Comisión Europea en julio de 2010, modificando el procedimiento para fijar las aportaciones que deben realizar las entidades de crédito a los sistemas de garantía de depósitos en función de su nivel de riesgo, supondrá cambios sustanciales en las cuotas que pagan actualmente. Este trabajo analiza el perfil de riesgo de las cooperativas españolas durante el período 2007-2010 y cuantifica su efecto sobre las contribuciones al Fondo de Garantía de Depósitos de Entidades de Crédito (FGDEC) aplicando la metodología desarrollada por la Comisión. El estudio concluye con importantes evidencias sobre la evolución del perfil de riesgo del sector durante un periodo de recesión económica y el impacto de esta reforma, valorado a través del número de entidades que aumentarían su aportación y las variaciones en el coste del seguro respecto al sistema vigente. The reform proposed by the European Commission in July 2010, modifying the procedure for determining the contributions which the banks must make to the deposit guarantee systems according to their level of risk will imply substantial changes in the fees currently paid. This paper analyzes the risk profile of Spanish cooperatives during 2007-2010 and quantifies their effect on contributions to the Deposit Guarantee Fund for Credit Institutions (FGDEC) using the methodology proposed by the Commission. The study concludes with important evidence about the evolution of the risk profile of the sector in a period of economic recession and the impact of this reform, measured by means of the number of entities that would increase their input and variations in the cost of insurance in relation to the current system.

The sector of cooperative banking in Europe has occupied an important position in the banking system for many years, though its role in individual countries differs. Despite the reduction of the number of cooperative banks between 2004-2011, the number of their outposts increased. In recent years, members and customers of cooperative banks have grown dynamically. The cooperative banks increased the quantity of engaged and possessed assets. In the years 2004-2011, the discussed banks doubled their deposits (to 3,9 bln euro) and granted more than two times the number of loans (worth about 4 bln euro). / Synopsis. Sektor bankowości spółdzielczej w Europie zajmuje ważną pozycję w systemie bankowym od wielu lat, choć jego rola w poszczególnych krajach jest zróżnicowana. Pomimo zmniejszenia liczby banków spółdzielczych w latach 2004-2011, liczba ich placówek wzrosła. W ostatnich latach dynamicznie przybyło członków i klientów banków spółdzielczych. Banki spółdzielcze zwiększyły ilość zatrudnionych i posiadanych aktywów. W latach 2004-2011 omawiane banki podwoiły swoje depozyty (do 3,9 bln euro) i udzieliły ponad dwukrotnie wyższych kredytów (o wartości 4,0 bln euro).

Cooperative banks are small credit institutions, and they are more likely than commercial banks to default in periods of financial stability. Focusing on Italy (one of the largest cooperative banking markets), we analyze the contribution of efficiency to the estimation of the probability of default of cooperative banks. We estimate several measures of bank efficiency, and we run a discrete-time survival model to determine whether different managerial abilities play different roles in predicting bank failures. We show that higher efficiency levels (both in cost minimization and revenue and profit maximization) have a positive and statistically significant link with the probability of survival of cooperative banks. We also find that capital adequacy reduces the probability of default, supporting the view that higher capital buffers provide additional loss absorbency and reduce moral hazard problems.

The bank insolvency framework in Poland should be modernized to ensure financial stability, maintain the continuity of critical functions in the banking system, and protect depositors and creditors, while assigning losses according to a pre-established creditor hierarchy. Several country experiences in Europe and elsewhere have demonstrated the effectiveness of new bank resolution measures by the European commission. A key aspect of the resolution process is for the authorities to swiftly assess and revalue the balance sheet of the intervened bank. Other particularities of modern resolution procedures relate to maintaining the integrity of secured financial contracts to prevent disruptions in financial market transactions including in payments and settlements systems. The treatment of systemically important institutions should rely on extraordinary resolution tools which are necessary if a bank is too large to be purchased or for its liabilities to be readily assumed. The purpose of this paper is thus to describe and recommend new features that can be added to strengthen the Polish legislation for handling commercial bank insolvencies. The paper focuses on the legal issues related to insolvency of banks (including commercial banks and cooperative banks). The banking sector's share in the total assets of the credit sector amounts to 89 percent while cooperative banks control 6 percent. The only wholly-owned state bank is the development bank Bank Gospodarstwa Krajowego (BGK) which is subject to supervision by the Polish Financial Supervisory Authority (KNF).