A Q&A on the Pan-European Pension Product (PEPP), a new voluntary personal pension product that will be offered in the EU from 2023.
The idea underlying Vollgeld is that of full-reserve banking from the 1930’s. In today’s context its side-effects would likely lead to instability and a deflationary tendency. In the Swiss case, uncertainty would have prevailed in the short-term, followed by a further appreciating Swiss Franc.
A review of the EC proposal for a Pan-European Pension Product (PEPP). We believe a PEPP will be more successful in some countries than others. In the Netherlands we currently see little added benefit for another individual pension product.
Special Dutch version
Our analysis shows that many Dutch banks that from the start focused on serving private customers and small businesses have been operating with relatively low leverage ratios for 100 years or more. This Special is intended to contribute to a more factual debate.
Banks have raced towards full compliance to the Basel III capital requirements. Adjustment via capital base expansion correlated positively with bank credit supply, whereas adjustment via balance sheet reduction correlated negatively.