Exchange of views
Exchange of views
Exchange of views
Speech
Strengthening the EMU: way forward for the next 5 years (SPG reform, macroeconomic imbalance procedure)
Objectives On 26 April 2023, the Commission presented a package of three legislative proposals: two regulations aiming to replace (preventive arm) or amend (corrective arm) the two pillars of the stability and growth pact first adopted in 1997, and an amended directive on requirements for budgetary frameworks of member states. On 21 December 2023 the … Continued
Open Strategic Autonomy in the economic and financial area: balancing EU and domestic interests
Objectives 10 years after the creation of the Single Supervisory Mechanism and 9 years after the launch of the first CMU initiative by the Juncker Commission, European banking and capital markets remain fragmented within the EU. On 19 January 2021, the Commission issued a communication which sets out how the EU can reinforce its open … Continued
Increasing equity financing: does the EU have the right market structure and regulatory framework for supporting innovation and growth?
Objectives This session will first discuss the current trends in terms of equity financing and IPOs in the EU, the impact of the current macro-economic environment in this area and the key issues to address to develop equity financing. Secondly, the panel will assess the impacts that can be expected from the CMU and MiFIR … Continued
Cross-border payments and global infrastructures: taking stock of the progress made following the G20 roadmap and remaining challenges
Objectives The FSB/CPMI cross-border payments program aims to substantially improve speed, cost, accessibility, and transparency by 2027. The Consolidated progress report for 2023 highlights progress and areas for improvement. Key Performance Indicators (KPIs) provide insights, such as wholesale payment speeds, availability of cross-border payments globally, and costs of sending retail payments and remittances. Wholesale payment … Continued
Basel III implementation: global consistency challenges
Objectives The Basel III post-crisis framework has been finalized at the global level since 2017 but is still in the implementation process in various jurisdictions, including the US and the EU. The EU sees the framework as essential but believes adjustments are necessary to accommodate the unique risk profiles and business models of EU banks. … Continued
EU payments: priorities for the incoming Commission (PSD3/PSR, single retail payment area, fraud fighting…)
Objectives The ECB is working on enhancing the European retail payment landscape and aligning the retail payments strategy with the digital euro project. Efforts include bolstering resilience in response to digitalisation, consumer behaviours, legislative actions, and promoting financial inclusion and digital accessibility. The EU has progressed in legislation to improve the availability of instant payment … Continued