BRUSSELS, 25 June 2015 –
ESBG released today an update of its summary of positions
covering a slew of EU policy areas affecting savings and retail banking. The fifteen-page ESBG Positions
document touches on more than a dozen topics, including a new position on the Digital Single Market Strategy communicated last month by the European Commission and a stance on Better Regulation/Proportionality strongly promoted in the context of the package proposed recently by EU Commission First Vice-President Frans Timmermans.
Position updates have been revised for the following policy areas:
- Own funds – international developments
- Banking structure reform
- Data protection regulation proposal
- Capital Markets Union
- Shareholder rights directive
- BRRD-Level 2: MREL and TLAC
Four policy positions unchanged, including stance on liquidity rules
Four ESBG positions remain unchanged in the document as compared with the last edition released in March. Those positions focus on liquidity rules, leverage ratio, financial transaction tax (FTT) and the review of the Markets in Financial Instruments Directive (MiFID).
Paper presented to EU Commissioner Hill
Sent to EU policymakers and trade body members and made available on the ESBG website, the easy-to-read format is designed to help policymakers to understand better and acknowledge the pressing need for simplified regulation adapted for savings and retail banks in Europe. ESBG leaders, including newly appointed ESBG President Isidro Fainé, presented a copy of the document to EU Commissioner Jonathan Hill during a high-level meeting held today at the Berlaymont.
The next update of ESBG Positions is scheduled for the autumn.