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EU Priorities for the 5 next years in the banking and financial services area

Low for long again? Central bank balance sheets large forever? ​What happened to incentives and market discipline?​

Objectives The session will not discuss the timing of rate cuts—many others are doing that. Instead, it will explore some deeper questions in monetary policy. First, is there an implicit assumption now that we are very soon returning to the easy times of low-for-long interest rates? Second, has it already been concluded that central bank … Continued

European financial stability: what are the main emerging risks? (strains from indebtedness, banking risks …)?

Objectives After 15 years of zero or negative key interest rates in real terms, the need to raise rates to combat inflation created the ingredients for a major financial crisis: the bond portfolios built up during this period of persistent very low interest rates have seen their value plummet since then. This lasting zero-interest rate … Continued

NBFI risks: are further measures needed? (liquidity / leverage risks, liquidity supply…)

Objectives Non-bank financial intermediation (NBFI) comprises investment funds, insurance companies, pension funds and other financial intermediaries. The NBFI sector has grown to almost half of global financial assets, worth around $218tn in 2023, and has become more diverse . As a result, the importance of NBFI for the financing of the real economy has increased. … Continued

Private risk sharing and transfer: main stakes, regulatory priorities and role for securitization

Objectives The securitisation market in the EU falls significantly below its potential, lagging other economies when measured against GDP. Such underdevelopment adversely impacts EU bank lending capabilities. Leveraging securitization as a capital management tool can address the challenges posed by the EU economy’s investment needs in digitalization and decarbonization, allowing banks to recycle existing regulatory … Continued

Is global financial and regulatory fragmentation increasing? 

Objectives The topic of fragmentation in financial markets has been receiving more attention from both market participants and policy makers with the increasing reality of fragmentation linked to geo-economics and global tensions and in a context of global challenges ranging from climate change to the rise of disruptive technologies. The objective of this session is … Continued

Asset management: trends, challenges and priorities for the next legislature (product framework reviews, ETFs, private assets, RIS specificities…)

Objectives The objective of this session is to discuss the main current trends in the European asset management sector, the opportunities and challenges facing the sector and the policy priorities for the next European political cycle in this area. Points of discussion Trends, opportunities and challenges: What are the main trends in the European investment … Continued