By Daniela Vandone

ISBN-10: 3790821004

ISBN-13: 9783790821000

Consumer credits has develop into a topical factor for researchers, regulators and the banking in Europe because of expanding industry integration, regulatory alterations and a starting to be tendency of families to take advantage of debt to finance intake. This learn makes use of a cross-country method of examine a vast variety of concerns regarding patron credits in Europe. targeting either the provision and insist aspects, it takes under consideration the constitution and function of economic intermediaries, the socio-demographic and financial profile of families and their possibility of over-indebtedness, in addition to the regulatory framework, akin to the recent customer credits Directive. within the mild of this research, measures for the prevention and administration of over-indebtedness are offered. This e-book 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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This situation needs to be addressed both by the banking system, for the negative consequences that over-indebtedness can have on banks’ retail lending portfolios, and by policy makers and governments, for the social and economic repercussions that over-indebtedness can have for the society. 21 According to the standard Life-Cycle theory, the demand for credit should be made on the basis of increased expected incomes and should, as a result, be higher amongst young people and those with high educational qualifications as these individuals forecast higher future income flows.

In Italy and Spain, where data are available, the percentage of individuals with personal loans is higher amongst the medium/high education groups. In particular, in both countries the proportion of borrowers with a degree or post-graduate qualification increases over time, as does the level of financial education necessary to access and select financial products effectively. The net wealth variable is also consistent with the empirical analyses discussed in Chap 1. The percentage of households holding consumer credit is higher amongst those households with lower levels of net wealth.

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. We will then analyse the social, demographic and economic characteristics of indebted households based on information available from national surveys carried out periodically by National Central Banks and/or statistics institutes.

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Consumer Credit in Europe: Risks and Opportunities of a Dynamic Industry by Daniela Vandone

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