27 April 2020

EBF Contribution to the High-Level Forum on the CMU

The European Banking Federation fully supports the European Commission’s efforts to relaunch the Capital Markets Union (CMU. The EBF sees the need for further integrated capital markets. Not least given the strains imposed by the pandemic.

 

Publication date:  27 April 2020

The European Banking Federation fully supports the European Commission’s efforts to relaunch the Capital Markets Union (CMU) and, specifically, the work of the High-Level Forum (HLF). The EBF sees the need for further integrated capital markets. Not least in view of the enormous challenges and strains posed and imposed by the Corona pandemic, a top priority must now be to eliminate all obstacles to economic growth.

Despite progress in the previous legislative cycle, further reforms are needed to remove regulatory obstacles so that EU financial markets can develop and integrate. A fully functioning CMU is vital to meet corporates’ funding and investors’ investment needs. Moreover, greater diversity of financing will make our financial systems more resilient and our economies more capable of confronting challenges such as climate change and digitalisation.

In this context, the EBF and its members are advocating for :

✓ More efficient EU securities market processes

✓ Proportionate investor protection and more retail long-term investment

✓ a stronger and more efficient securitisation market

The EBF has a long-standing engagement in capital markets policy and would like to remind its commitment as coordinator of the Markets4Europe campaign to promote the structural reforms, required to develop and integrate the EU’s financial markets, through regional conferences, technical workshops and advocacy. The campaign brings together market infrastructures, banks, companies and investors; it is guided by a group of former EU/national Leaders and supported by the 16 CEOs of diverse users and providers of financial market services in the EU.”

EBF

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