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Messages from Tinagli, Campa, Maijoor, Hernández de Cos

Messages from Tinagli, Campa, Maijoor, Hernández de Cos

Views on the EU banking future shared at ESBG Retail Banking Conference 

​​​​​​Brussels, 30 October 2020 – EU financial policymakers, regulators, supervisors and industry experts convened for the annual ESBG Retail Banking Conference that took place in a virtual format for the first time.

The discussions focused on three key conference themes: Sustainable Finance, Digital Finance and Covid-19 and the EU financial sector.

The conference included pre-recorded video messages from Irene Tinagli, Chair of the Committee on Economic and Monetary Affairs at the European Parliament, Pablo Hernández de Cos, Chairman of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, José Manuel Campa, Chairperson of the European Banking Authority and Steven Maijoor, Chair of the European Securities and Markets Authority. Participants could hear about some of the most important measures taken by public authorities as well as about future challenges for the EU banking system.

Watch the video messages on our Youtube channel​.



 

Irene Tinagli, Chair of the Committee on Economic and Monetary Affairs at the European Parliament

The greatest challenge for the European banking system in this difficult phase is of course keep being part of the solution and not the problem. This of course does not depend only on banks. So far we have to say that all the policy measures put in place by almost all European governments along with national and European regulators and supervisors have made this possible. Banks have been key actors and players in all the governments to avoid and prevent the Covid-19 crisis to expand and affect the real economy​.

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José Manuel Campa, Chairperson of the European Banking Authority

Although European banks entered the COVID-19 epidemics in a good starting position, with larger capital levels and abundant liquidity buffers, there are structural vulnerabilities in the sector that existed prior to the pandemic and that are being exacerbated by the pandemics.
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Pablo Hernández de Cos, Chairman of the Basel Committee on Banking Supervision and Governor of the Bank of Spain

Looking a bit longer ahead, the pandemic is further underscoring some of the pre-crisis trends and structural forces in the banking system, including with regards to the role of financial technology and the impact on banks’ business models.

The Committee continues to monitor the risks and vulnerabilities to the global banking system from Covid-19 and will pursue additional measures if needed.
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Steven Maijoor, Chair of the European Securities and Markets Authority

When the Covid-19 crisis hit European societies in March this year,
 ESMA not on​ly coordinated activities among European securities regulators but also introduced various policy responses. For example, we provided relief to market participants, helping market participants better focus on continuity of their business, we delayed certain reporting requirements, we also provided guidance for banks.



Covid-19; Capital Markets Union; Digitalisation; SME finance