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After a number of years in which all EBA’s concerns have been directed to the day-to-day issues raised by the unfolding of the financial crisis, it is time to look ahead and start asking ourselves which are the medium to long term challenges facing the banking sector in Europe.
Andrea Enria, Chairman European Banking Authority, therefore organizes her remarks in two parts. In the first part, she focuses on the progress made in the repair of the EU banking sector – both regulatory reforms and adjustment in banks’ balance sheets.
He said: „My main point is that we have already moved to a radically different landscape for banking activity, but we need to keep up momentum to complete the reform package endorsed by the G20 Leaders according to the agreed timeline and aiming at the maximum possible level of consistency at the international level and, especially, within the EU Single Market.“
In the second part, he covers some of the challenges ahead and focus her attention on three remaining open issues that will determine the shape of the EU bankingsector going forward, namely:
He stresses that on none of these issues she is arguing for additional rules besides what has been already agreed at the international and European tables: what is needed in her view are effective and coordinated policies, and a thorough enforcement of the Single Rulebook EBA has just put in place.