FBE report on assessment and future priorities of FSAP

29 March 2004

In its report on the FSAP the European Banking Federation (FBE) states that the creation of a truly European market for financial services will mainly depend on the implementation of the FSAP measures, convergence of national supervisory practices and proper enforcement. However, the report also states that there is no there is no need for a long list of new legislative proposals along the lines of the FSAP

FBE also criticizes the existing market entrance barriers by stating that the current scarcity of supply of cross-border retail financial services is owing to the fact that foreign banks are hindered from entering the market.

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