FROM THE EUROPEAN BANKING FEDERATION:
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BOOSTING EUROPE
EBF recommendations for the 2019-2024 legislative policy cycle and beyond
BRUSSELS, May 2019 – To provide ideas and recommendations to policymakers, regulators and experts on the role of banks in the European Union for the next five years and beyond the European Banking Federation has published a manifesto that outlines the main regulatory priorities for the banking sector in the context of the upcoming 2019-2024 legislative policy cycle.
Click to download BOOSTING EUROPE as pdf.
As the voice of European Banks, the EBF and its members remain fully committed to supporting a more competitive and cohesive EU in the context of Europe’s great diversity. We believe that without a united and coordinated Europe, the most likely outcome would be more fragmentation, more protectionism and therefore underperforming economies to the detriment of citizens. The EBF is committed to help in supporting European economies so that European businesses and citizens are better served by banks. We have set out in this document the sector’s recommendations to address the key challenges Europe is currently facing.
Key recommendations:
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Banks as responsible partners to businesses and consumers
- Connect environmental, societal and financial goals
- Find new drivers to increase sustainable investments
- Financial literacy should be promoted as we believe it is an essential factor of the EU economic success
- Put more efforts in the fight against Financial Crime
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Build a true Digital Single Market
- EU’s competitiveness and consumer protection in the digital economy should be an EU’s top priority
- Adopt a holistic approach towards an EU data economy: data access and data sharing should be considered in a broader context than financial services
- Conduct a digital “fitness check” to grasp consumers’ and market participants’ expectations more thoroughly and guarantee that the legislation is fit for purpose in the digital era
- Banks should be seen as an indispensable partner for the completion of a truly Digital Single Market
- Deepen and upgrade cyber-security standards in the EU
- Enhance actions to address the social impact of digitalisation
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Enable banks to better serve the EU’s economy
- An appropriate transposition of Basel4 rules to avoid disproportionate increases in capital requirements for European banks is mandatory
- Remove the remaining obstacles on capital and liquidity circulation and reset the Capital Markets Union
- Maintain a diversified banking landscape
- Ensure a proper balance in taxation and tax compliance
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Achieve a stable and efficient regulatory framework
- Conduct a thorough analysis of the existing EU regulatory framework
- Complement this analysis with an in-depth examination of level playing field issues with non-bank competitors
- Address inefficiencies, overlaps and level playing field issues before proposing new regulations
To read the full document click on the link below or on the image above.
For more information:
Olivier Thomas, Public Affairs Representative
o.thomas@ebf.eu
+32 2 508 3712
Media contact:
Raymond Frenken, Head of Communications
r.frenken@ebf.eu
+32 2 508 3732
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Statement from the European business community
on the 2019 European Parliament elections
BRUSSELS, 2 May 2019 – The European Union is one of, if not the greatest, achievements of our shared history. It has provided for long-lasting peace across our continent and has brought European people together around the fundamental values of democracy, human rights, freedom and equality.
The European business community remains committed to defending these common values and strongly believes in the benefits of the European Union, particularly its Single Market and our common currency, the Euro. Despite various challenges, the EU project has remained resilient and strong and even though not yet perfect in many regards, the positive impacts of EU integration by far outweigh the negative.
The EU has been instrumental in making the European way of life that we cherish today a reality, and European business has played a key role in enabling this. We have a responsibility to defend what we have achieved and to make sure that Europe is the best place in the world to live, work and do business.
Democracy needs to be lived in order to remain alive. We therefore urge citizens, and specifically our colleagues from business across the continent, to help shape our common future by voting in the European Parliament elections on 23-26 May 2019.
As European business representatives, we will continue to contribute to a successful European project and a united Europe that delivers for its workers and enterprises.
For more information at the European Banking Federation:
Raymond Frenken, Head of Communications, +32 2 508 3732, R.Frenken@ebf.eu
About the EBF:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 32 countries in Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu Twitter: @EBFeu.
Subscribe to the EBF Weekly + FinReg Agenda
Every Friday at noon you can receive the EBF Weekly + Financial Regulation Agenda. This agenda presents an overview of upcoming European and international meetings and conferences in financial regulation, as well as important general financial and economic events and key EBF meetings for the week ahead. CLICK HERE TO SUBSCRIBE
Subscribe to the EBF Morning Brief
The EBF Morning Brief is published Monday through Friday morning and brings you the top banking headlines, relevant announcements from the EU institutions and the latest from the EBF and its members, national banking associations in 32 countries in Europe. CLICK HERE TO SUBSCRIBE
The post European business community on the 2019 EU elections appeared first on EBF.
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