ABSTRACT
There was an era before electronic and volume banking when clients negotiated customized financial transactions with a bank manager across the bank counter. An over-the-counter (OTC) product was designed to meet the individual needs of a client through product bundling. A home loan mortgage package with individualized principal and interest repayments, duration, and flexibility was a typical over-the-counter bundled bank product. Banking cost efficiencies quickly replaced customized solutions with more generic products once financial deregulation occurred, with volume-focused banks quickly expanding some of the more traditional roles of trading banks.
