Follow Us

Follow us on Twitter  Follow us on LinkedIn
 
Home>Policy impacting Finance
Print Page Save to My Library <Next Article  Previous Article>
29 September 2010

EFR: The success of the EU supervisory package will depend on its concrete implementation


Default: Change to:


Der European Financial Roundtable unterstreicht dass die unterschiedlichen Geschäftsmodelle von Banken und (Rück-)Versicherern berücksichtigt werden müssen. Zahlreiche technische und operative Herausforderungen bleiben bestehen. ESRB und ESA sollten daher gegebenenfalls die Finanzdienstleistungsbranche konsultieren, bevor Entscheidungen getroffen werden.


The EFR welcomes the adoption of the EU supervisory package by the Council and the European Parliament. It expects the legislative measures to be a key driver for financial stability in Europe and further integration of the EU financial services market. It is an important step towards a truly single market for financial services, thereby illustrating the ability of the European Union to deliver on its international commitments.
The EFR has been actively involved in the debate on supervision for a number of years, consistently calling for more efficient and effective supervision of cross-border financial institutions. In this respect, EFR supports the strengthened European angle in micro-prudential supervision by way of pan-European rules. However, the uniform application of those rules will have to be ensured by the European Supervisory Authorities.
EFR also agrees with the establishment of the European Systemic Risk Board for the macroprudential oversight of the financial system and its power to issue warnings and recommendations.


© EFR - European Financial Services Round Table

< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information


Add new comment





 


www.grahambishop.com
// Business Applications by Denaploy 		Web Master Information
Terms & Conditions
Privacy Policy