BRUSSELS, 27 June 2017
At a time when growth is crucial for Europe, the capacity for banks to finance the economy should be leveraged by renewed trust in the banking system. Financial stability and financing of the economy should go in hand, instead of being separated work streams. Consumer trust in the banking system is essential, but respect of the role that regulators and supervisors play is also essential to make it work. This is why it is now time for a dialogue in order to adapt bank business models to the new reality. The first test of this idealistic new deal between banks, regulators/supervisors and customers is the capital and resolution package review. The proportionality principle (based on size, risks, business model, etc.) is one of the threads which can be followed in order to adjust regulation to the reality faced by locally-focused savings and retail banks. Its application requires strong engagement from all parties but ESBG believes it is worthwhile as it is the key to an optimal local banking system able to finance SMEs and thus the EU economy as a whole.
Camden Fine, President and CEO, Independent Community Bankers of America (ICBA)
François-Louis Michaud, Deputy Director General, European Central Bank
Johanna Orth, Head of Group Regulatory Affairs, Swedbank
Karl-Peter Schackmann-Fallis, Executive Member of the Board, German Savings Banks Association (DSGV)
Peter Simon, Member of the European Parliament
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