The European Commission’s proposals for implementing the Basel rules are a step in the right direction. But they do not yet go far enough.
“T
Europe is different. It is good that the Commission has decided to take
into account European specificities. Unfortunately, the corresponding
proposals are temporary. We don’t know what will happen after 2030.
Sustainable businesses, becoming more digital, European enterprises need
to adopt a long-term perspective to achieve all of this. This is
particularly the case for the many small and medium-sized enterprises
with no external rating.” We, the private banks, cannot be satisfied
with this.
Also, the Commission believes that banks should take a longer-term
approach to risk management. They should take more account of
sustainability risks. Undoubtedly, banks will deal with sustainability
risks appropriately. However, what lies ahead is not only risk, but
above all an opportunity for Europe to remain competitive in the long
term. To do this, we must set the right course. We need more private
capital to transform the economy. The Commission’s legislation lacks
these positive incentives.”
BDB
© BDB - Bundesverband Deutscher Banken
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article