||1960年代における西ドイツ銀行システムの構造変化と競争秩序 : 「競争の歪み」調査と金利自由化
Structural Change and the Regulatory Framework of the Banking System in West Germany in the 1960s
26 , 2015-11 , 滋賀大学経済学部
This paper analyses the process of structural change and the regulatory framework of WestGermany’s banking system in the 1960s, looking at the dispute between the three bankingsectors, the government’s inquiry into the banking industry, and the discussions of economicexperts. At that time, the framework of economic management was in the process of changingfrom government intervention and regulation before and after World War II to liberalizationof the market economy and banking industry. That process was influenced by two reportsrelated to West Germany’s banking policy and framework of the 1960s. Firstly, W. Stützel inSaarbrücken reported on the significance of liberalizing interest rates, which had been fixedby an official committee since 1931. Secondly, the report of the federal government’s inquirycommission suggested the abolition of tax exemptions or reductions, which savings banksand credit cooperatives were allowed, but not the private bank sector, since the 1920s.Market competitiveness within the three sectors began with the abolition of the necessityexamination by the authorities at the establishment of banking institutions or their branchesin 1958. While both sectors of private banks and credit cooperatives attacked the privilegesof the savings banks, savings banks justified their position from the viewpoint of publicinterest, which was closely connected to it. After the regulations on lending and depositrates were abolished in 1967, based on Stützel’s report, competition between the sectorsbecame more effective within the market. The abolition of the tax priorities of savings banksrealized at last fair competition within the banking sectors. But the savings banks’ businessprinciple of public and regional interests was recognized by the federal economic ministryreport. Thus with the private banks’ profit principle, the bipolar features of the regulatoryframework in（West）Germany’s banking system remains to the present.