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Reason to keep local banks in policy frame

Reason to keep local banks in policy frame

Savings, retail banks know well SME financing story, remain unwavering in their role



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​15 March 2016 


​​​The following message from ESBG appeared in today's Politico.eu Morning Exchange.


The European Commission Capital Markets Union puts front and centre the need to unleash financial investment in Europe's real economy. Unlocking funding for SMEs includes giving start-ups access to capital markets – a welcome and undoubtedly ambitious aim to nourish more mature, growth-minded mid-sized firms. The need remains, however, to keep bank-based lending as the main financing route. 

Savings and retail banks know the SME financing story perhaps better than anyone. Working daily with SMEs to provide financing, ESBG member banks remain unwavering in their role, despite facing an onslaught of tougher bank rules that flowed from the wake of the financial crisis. Focused on being close-to-customer, their overall business lending model helps create and maintain vibrant local economies, providing them with loans on the books valued at more than €1 trillion. 

That’s plenty of reason to keep local banks in the frame. 

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SME finance; Capital Markets; Capital Markets Union; Proportionality