This study focuses on the retail payments market in the European Union （EU）, which does not seem to have integrated as much as other internal markets have, despite various measures taken since the 2000s. This research assesses these measures to shed light on the progress and challenges of the EU’s retail payment market integration. Through a framework of quantitative and price indicators, the study analyses the extent of integration of the EU retail payments market.

　The paper begins with an overview of retail payments and the differences among EU countries in their use characteristics, including those of online and mobile payments popularised by the spread of internet and smartphones. Second, two important measures of EU retail payments market integration are surveyed: the Single Euro Payments Area （SEPA）, which offers a single scheme and infrastructure for banking credit transfer and direct debit in euro in the single currency area or Eurozone; and the EU single retail payments service market, which enables firms to provide payment services across borders through a single passport within the EU.

　Finally, the study examines how the EU’s retail payments market has been integrated, using a framework including factors such as development of market participants （e.g., the number of payment institutions and the rate of passporting in EU member states）, and convergence to lower price levels within the EU （e.g., in banking credit transfer fee and interchange fee for card payments in EU member states）. The analysis finds that more payment institutions are providing their services across borders, with fees gradually converging to low levels, proving that the EU retail payments market has progressed towards higher integration since the 2010s.

　Additionally, the study finds that the diverse retail payment behaviours in EU countries have started to converge in the form of secondary benefits from market integration. It has been argued that the use of retail payment instruments in EU countries varies greatly according to history, law, culture, and customs. This study contends that the secondary benefit of market integration is seen in the changes in retail payments usage, especially in the increased cross-border provision of payment services, market acceptance of card, online, and mobile payments, and fall in retail prices.

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In order to avoid the risk of bankruptcies’ succession in financial institutions, research on financial transaction networks on systemic risks has been active globally, mainly in Europe. In this research, we propose a new strategy to reduce the bankruptcies’ succession at minimum cost by constructing an inter-bank transactional network model composed of Erdos-Renyi network and Barabasi-Albert Model considering network property. As a result of the verification using agent-based modeling, it is verified that financial assistance implemented to stop the bankruptcies’succession will eventually increase the succession, andWe clarified the importance of selection of financial institution implementing financial injection. We also show that eXtreme Gradient Boosting is effective as a method of selecting financial institutions and propose new strategies to improve accuracy.This is a major economic effect in the sense that it proposes the risk indicator that aims to improve the certainty of the investment of public money by analyzing the properties of the transaction network analysis of financial institutions.

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スマートフォンの普及を背景に，スウェーデンやデンマーク，アメリカといった国々において，個人間送金のための共通スマートフォンアプリ（個人間送金アプリ）が多くの人によって利用されるようになった。個人間送金アプリは，割り勘やチケット代の支払いのように，これまで現金で物理的に行っていた金銭の授受を情報化するサービスであり，情報化された金銭の授受は，今後様々な用途に利用されていくことが考えられる。

しかしながら，スウェーデンやデンマークにおいて国民の80％以上が個人間送金アプリを利用していることを踏まえると，日本において個人間送金アプリが大きく普及しているとは言い難く，同様の状況は，イギリスやフランスといった国においても見られる。日本においては，50代以下を中心にすでにほとんどの人がスマートフォンを保有しており，複数の企業が個人間送金アプリを提供していることを踏まえると，たとえスマートフォンを保有していても個人間送金アプリに対する利用意向を示さない人が一定数いることが考えられる。

これらの状況を踏まえ，本稿は，個人間送金アプリの利用意向と個人特性との関係について検討したものである。検討の結果，簡単さを求める人や盗難被害に対する不安がある人，スマートフォンのセキュリティを気にする人ほど利用意向を示す傾向があることが分かった。また，女性のみせっかちな人ほど利用意向を示さない等，男女で異なる傾向が見られることも分かった。

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金融に係るリスクについて，個別金融事業者のリスクを中心に，市場リスク，信用リスク，流動性リスク，オペレーショナルリスク，法務・規制リスク，ビジネスリスク，戦略リスク，風評リスク，システミックリスクの9 カテゴリーの概要とリスクマネジメントの取組みを説明し，最近の動向としてFinTech やマイナス金利政策に係るリスクについても考察する．

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保険論の重要な隣接分野に金融論がある。また，現実の保険会社の活動も金融業の一部と認識されることが普通である。そこで，本稿では，保険と金融の２分野の研究や教育におけるシナジーを実現するために，金融論の研究や教育においてどのように保険が扱われ，どのような保険の側面に関心が持たれているのかを明らかにする。具体的には，第１に，金融論の大学レベルのテキストで保険がどのように扱われているかを，その取扱いの歴史的な変化も含めて調べる。第２に，金融研究においてどのような保険の側面が関心を持たれているのかを，日本金融学会での報告タイトルを題材にして明らかにする。最後に，アメリカを中心にした世界の保険研究では経済学の影響が強いことがよく知られているが，どのような分野が保険研究に影響を与え，どのような点が研究されているのかを，先行研究に基づいて紹介する。

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The paper investigates the business strategies of shinkin banks, including the strategies for relationship managers of shinkin banks, branch strategies, product strategies, system strategies, etc. "Shinkin bank" is a partially credit-union-like institution which specializes in community banking and SME finance in Japan, however can collect deposits from non-member customers. The research is based on the categorical principal components analyses for a questionnaire survey we conducted to 272 shinkin banks in February 2006, in cooperation with the National Association of Shinkin Banks. By analyzing answers for 58 questions of 235 shinkin banks, we identified seven principal components, which include the "loan- and efficiency-oriented" strategy, the "centralized judgment for loan application" strategy, and others. Then we examine the relationship of the performance variables of shinkin banks as dependent variables and the seven strategies as independent variables by regression analyses. We found the growth of deposit balance and the growth of loan balance are positively affected by the loan- and efficiency-oriented strategy. The fact we showed is important for both shinkin banks and SMEs, because we believe the growth of shinkin banks arises from the prosperity of SMEs.

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