“To complete the banking union, we definitely need greater harmonisation of rules”

Andrea Enria
Andrea EnriaChair of the European Central Bank’s Supervisory Board

“We confirm our support for the BCBS work to finalise the Basel III framework without further significantly increasing overall capital requirements across the banking sector.”

G20 Communiqué, 18 March 2017
G20 Communiqué, 18 March 2017

“A strong banking sector in Europe is a diverse banking sector. We need small banks servicing local communities and businesses. And larger banks operating and lending right across the single market.”

Valdis Dombrovskis
Valdis DombrovskisEU Commission Vice-President for Financial Stability, Financial Services and Capital Markets Union

The EBF supports financial services regulation that protects consumers, promotes market integrity and supports long term investment, economic growth and job creation in Europe. Following the global financial crisis in 2008, the EU in cooperation with the G20 have set out to deliver an ambitious reform agenda to restore financial stability and public confidence in the financial system. The completed reform agenda in Europe now includes:

  • an updated supervisory framework with strengthened capital and liquidity requirements and enhanced banking supervision

  • a new crisis management framework for banks with recovery and resolution tools for resolution authorities,

  • more effective deposit protection for faster pay-out,

  • the creation of the banking union with a single supervisory mechanism and single resolution mechanism for the euro area.

Overall, these reforms have made the European financial system more stable, resilient whilst providing a more harmonised single rulebook for EU banks that is consistent with international standards. However, international policy making for financial services remains an ongoing process that continuously reviews evolving risks to keep the regulatory framework up to speed with technological and economic developments.

At the same time many of the reforms that have been implemented or are still in the process of being implemented need to be monitored for unintended consequences and potential divergences with other jurisdictions that could lead to an unlevel playing field for European banks. If necessary, existing rules need to be re-calibrated to reduce the burden for European banks so they can continue to finance economic growth and jobs and remain competitive in global financial markets.




Gone concern of banks - Banking supervision subpage



Gonzalo Gasos

Gonzalo Gasos

Head of Prudential Policy & Supervision
Judith Ay

Judith Ay

Senior Policy Adviser - Prudential Policy & Supervision
Francisco Saravia

Francisco Saravia

Policy Adviser - Economics, Statistics & Supervisory Reporting
Lukas Bornemann

Lukas Bornemann

Policy Adviser - Prudential Policy & Supervision
Mireille Thiery

Mireille Thiery

Assistant - Prudential Policy & Supervision
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