16 May 2019

EBF recommendations for the 2019-2024 legislative policy cycle 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 EU legislative policy cycle.

Key recommendations:

• 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
• Build a true Digital Single Market
  • EU’s competitiveness and consumer protection in the digital economy should be an EU’s top priority
  • 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
• 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
• 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

Manifesto

© EBF