Rather than creating new access methods, consumers will probably feel more comfortable if existing systems can be extended into the mobile banking area.
Politically, a Europeanization of the banking sector would also require countries to give up sovereignty, but in the area of banking regulation and supervision, which is rather technocratic and more remote from day-to-day concerns of ordinary citizens.
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Even in the stricken corporate and investment banking area, revenue rose by 7% in the second quarter, after a 1% decline in the first quarter.
U.S. retail sales data, industrial output in China and the euro area, the ongoing Spanish banking crisis and possible further monetary policy easing in Japan will all be overshadowed by the Greek elections, said Nomura Securities analysts in a 16 page report on Friday.
In one key area the banking industry has succeeded in getting the Treasury to water down one of Vickers' recommendations, he said.
But when I was working in the area of investment banking I was putting in very long hours and it became increasingly clear to me that if I was devoting that amount of time and energy to something, then I wanted it to be devoted to something that would have a bigger and positive impact on the world.
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The third danger area is corporate banking.
ECONOMIST: The imminent launch of the euro is a threat to Europe��s banks
The lack of unified euro-zone banking supervision also created a problem that the currency-area theorists failed to foresee.
Such a move would of course come as a tremendous shock, and it would be essential to protect Italy and France at once by making far-reaching concessions that shift the remaining euro area towards mutualisation of debt and the creation of a banking union.
This threat also exists beyond the euro area, of course: banking liabilities in Britain, Switzerland and Denmark are four to five times larger than their national economies.
In practice, that will not happen until the European Central Bank (ECB) is put in charge of euro-area banking supervision, which may take a lot longer than the planned six months.
"I appreciated the chance to hear about the scope to broaden the framework for oversight and risk-sharing in line with the euro area's large and interconnected banking sector, " Mr. Lew said during his news conference.
The biggest risk associated with this scenario is that the moves towards debt mutualisation and a banking union might not, after all, be enough to stabilise the remaining euro area, resulting in a total break-up of the euro zone and triggering a savage recession with hugely damaging economic consequences.
Meanwhile, the area around Broad Street in this former banking hub has rebounded into the Avenue of the Arts, where new mixes gracefully with old.
Writing in the report, Pier Carlo Padoan, deputy secretary-general and chief economist, said the European Central Bank could investigate more non-conventional ways to promote growth and the euro area needed to continue repairing deputy its banking system.
An alternative would be for the banking union to apply only to countries in the euro area.
However, the agency noted the UK "continues to be well supported by a large, diversified and highly competitive economy, a particularly flexible labour market, and a banking sector that compares favourably to peers in the euro area".
Commerce is well known in the New York area for consumer-friendly services like weekend banking hours and coin-sorting machines.
The desire to get into investment banking in general, and London, Europe's financial centre, in particular, assumed that the euro area would rival America's capital markets for profitability.
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