The European Banking Federation and its members are carefully reviewing the draft report on the separation of European banks that was published by the Economic Affairs Committee of the European Parliament.
The draft report shares banks’ concerns by acknowledging the importance o preserving vital liquidity-generating functions for economic growth whilst maintaining cost effective financial services for SMEs. The report by MEP Gunnar Hökmark recognises the importance of ensuring that the banking sector can fulfil its role of financing the economy, and it underscores the importance of the cumulative impact assessment.
While the EBF has expressed opposition over tackling this matter at a European level, given the many legislative initiatives already taken which changed the financial landscape, and the various existing national regulations on structural reform, the report sets the base for further discussions among co-legislators.
When the original Bank Structural Reform (BSR) proposal was tabled in January last year the EBF voiced its opposition as the plan failed to connect appropriately with other significant measures that were in the process of being introduced such as the Bank Recovery and Resolution Directive, which entered into force in all EU member states this Year.
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