The Spanish Banking Association has responded to the European Commission’s consultation on competitiveness, a matter of strategic importance in defining the regulatory and supervisory agenda for the European Union’s banking sector in the coming years.
The initiatives proposed by the AEB aim to strengthen the competitiveness of the European banking sector, an essential aspect to guarantee the strategic autonomy of the European Union. In addition, these proposals seek to strengthen economic resilience and promote sustainable growth.
A simple, coherent and predictable regulatory framework enables banks to finance the EU’s key priorities and facilitates the advancement of digitalization both in banks and in the economy as a whole. Likewise, it favors the integration of the Single Market, through economies of scale, eliminates obstacles to cross-border operations and favors efficient consolidation.
Finalizing the Banking Union is key for the EU to operate effectively as a single jurisdiction. Simplifying the regulatory framework does not mean lowering prudential standards, but eliminating the fragmentation, duplication and excessive complexity that hinder the strategic objectives of the European Union.
