High-Level Forum’s Report on the Capital Markets Union: EBF Response

High-Level Forum’s Report on the Capital Markets Union: EBF Response

BRUSSELS, 2 July 2020 – The European Banking Federation sincerely welcomes the publication of the final report of the High-Level Forum on the Capital Markets Union “A New Vision for Europe’s Capital Markets”. As the initiator and coordinator of the Markets4Europe campaign, the EBF fully believes that the upcoming Action Plan should be used to remove regulatory obstacles as recommended in the campaign’s roadmap “Transforming Europe’s Capital Markets”.

At this critical juncture, marked by the enormous challenges and strains imposed by the Corona pandemic, the European banking industry continues to support the effort to eliminate all unnecessary barriers to economic growth and fully recognizes the urgent need for further integrated, liquid, dynamic and more resilient capital markets in Europe. A fully functioning CMU is now more vital than ever if Europe wishes to meet corporates’ funding and investors’ investment needs. Greater diversity of financing will make our financial systems resilient and our economies more capable of confronting yet other challenges, such as climate change and digitalisation. To make this happen, European capital markets need real game-changers – ambitious and far-reaching reform projects aimed at abolishing barriers to cross-border investments, allowing wider participation of retail investors and ensuring more diverse ways to access to finance.

For these reasons, the EBF and its members positively receive the ambitious scope of the report and the seventeen key recommendations therein made for the EU, Member States, and the industry. European banks urge the European Commission, the Council, and the European Parliament to seize the opportunity of the way paved in this report to achieve real and lasting change in Europe[1]

[1] See also: https://www.ebf.eu/market-securities/markets4europe-urges-the-eu-to-launch-the-reforms-proposed-by-the-report-of-the-high-level-forum-on-cmu/

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FOR MORE INFORMATION:       

Pauline Guérin, Senior Adviser – Financing Growth
European Banking Federation
p.guerin@ebf.eu

Jacopo Borgognone, Policy Adviser – Financing Growth
European Banking Federation
j.borgognone@ebf.eu