European banks call for appropriately finalising the regulatory framework to support efficiently economic growth and job creation.
European banks, through the Board of the European Banking Federation, today reaffirmed their commitment to supporting the European project through actively and responsibly financing businesses and households. The Board welcomed continued evidence of easing bank credit standards and increasing loan activity in the euro area, as demonstrated again in the first quarter by the quarterly Bank Lending Survey of the European Central Bank.
Given the particular significance of bank finance for Europe’s economy the EBF Board called on national and European policymakers for proper calibration when it comes to the finalisation of the wide range of regulatory measures still currently under discussion in the European Union. This is necessary so that banks can continue their financing commitment and support growth and jobs.
Says Frédéric Oudéa, President, EBF Board:
“We need to make sure that the international competitiveness of the European banking sector is not damaged. It is up to policymakers now to finalise the regulatory agenda and strike the right balance, avoiding undue impact on the financing of households and companies while ensuring the development of a safe, sustainable and competitive European financial services industry that benefits all our economies.”
Future of electronic payments in Europe
Customers expect banks to protect their personal data. Data protection is at the core of trust in financial institutions. While European banks fully embrace innovation in their services and value competition in the market, the Board of the EBF warns that an inappropriate changes of proposed technical standards for electronic payments would put at risk the integrity of customer data, jeopardises the level playing field in European payment services and places a disproportionate burden on banks in the implementation of unnecessary technical solutions.
The Board calls on the European Commission to adopt – without amendments – the delegated act proposed by the European Banking Authority (EBA) for electronic payment services under the second European Payment Services Directive, known as PSD2. Deviating from the EBA recommendations would clearly go against the objectives of enhancing consumer protection and improving security of payment services across the European Union.