The Swedish banks adaptation to the EMU 1999 (English)Independent thesis Basic level (degree of Bachelor)Student thesis

Abstract [en]

The 1 of January 1999 was the day the new European currency was implemented. Even though Sweden will not participate in the new European Monetary Union we will still be affected from it. The Swedish banks for example had to be ready to handle the new currency on the first bank day this year. To be able to handle this there were a lot of adaptations to be made for the Swedish banks. The aim with this study has been to look into this adaptation and to see if it really has been so big and expansive as many experts says. The banks will also lose money due to decreased number of foreign exchange and commissions on these and on their own speculations. The questions is if these losses really will occur and how big they will be if they do. What do the Swedish banks really think about the EMU, is it a good or a bad thing? To find an answer to this I interviewed two big Swedish bank, Merita Nordbank and SEB. Most of the adaptation has been concerning the computer systems so it would be able to handle the new currency and the new services in Euro that the banks now are offering. The employees had to be educated to be able to handle the new services and to help the customers and to inform them about the new business environment. This have cost the banks a lot of money and then especilly the adaptation of the computer systems. The questions about the income losses is something that the banks cannot agree upon. Some says that these losses will occur now already and that they will not be insignificant but others say that they will not occur until Sweden joins the Union. So the question still remains, is EMU a good thing for the Swedish banks or is it just a big expansive adaptation and whit profit losses as a result of it? Well, even though it has cost the banks a lot of money and they will lose even more due to lost incomes the banks are still very positive to the European Monetary Union and are hoping that Sweden will join in the near future.

Place, publisher, year, edition, pages

1999.

Identifiers

URN: urn:nbn:se:hh:diva-8502Local ID: U2533OAI: oai:DiVA.org:hh-8502DiVA, id: diva2:363588

Uppsok

Social and Behavioural Science, Law

Note

Denna uppsats kan beställas från arkivet / This paper can be ordered from the archive. Kontakta / Contact: arkivet@hh.seAvailable from: 2010-11-09 Created: 2010-11-09Bibliographically approved

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