What must be prioritised for the financial sector over the next five years
For the EU to maintain its competitive edge globally, the von der Leyen II Commission must focus on balancing regulatory simplification with forward-looking strategies in capital market integration, bank competitiveness, digital finance and sustainability. Despite significant growth, Europe’s financial system remains predominantly bank-centric compared with more market-oriented systems. Initiatives like the Capital Markets Union and […]
Staying ahead of the curve
A comprehensive review of the financial services landscape is necessary for the EU to address structural inefficiencies, ensure market dynamism and support long-term economic growth. The report emphasises that while Europe’s financial system has expanded in size and complexity, and there have been efforts to diversify and integrate financial markets, progress remains uneven, with fragmented […]
Why we need to rewire Europe’s financial sector – to end fragmentation and bolster integration
If Europe wants to stay ahead of the curve and be able to follow – and eventually lead – its international counterparts, the new European Commission should have a focused agenda that balances regulatory simplicity with forward-looking strategies. This is particularly the case in capital market integration, bank competitiveness, digital finance and sustainability. Over the […]
FiDA: is the EU prepared to move from Open Banking to Open Finance?
The EU has made significant progress to unleash the full potential of data in the financial sector. This includes the Payment Services Directive 2, establishing Open Banking, the 2020 Digital Finance Package, and the Financial Data Access and Payments Package, comprising an amendment to PSD2 (which would become PSD3), a Payment Services Regulation (PSR), as […]
Ten years of the SSM
European banking supervision will have been operational for ten years come November 2024. The Single Supervisory Mechanism (SSM) has evolved from a start-up to a mature, well-established, and respected supervisor. Harmonised and transparent supervisory practices have been implemented, whilst the European banking sector has proved to be resilient with strong capital and liquidity positions. Nevertheless, […]