María Abascal, CEO of the Spanish Banking Association (AEB) and Chair of the Executive Committee of the European Banking Federation (EBF), met with European Commissioner Valdis Dombrovskis to discuss the current situation of the banking sector and enhance its contribution to Europe’s growth and competitiveness. The meeting, held in Brussels within the framework of the EBF, was also attended by the CEO and Managing Director, Wim Mijs and Sébastien de Brower, respectively.
During the meeting, Abascal advocated for simplifying the regulatory framework to eliminate unnecessary burdens and leverage the full capacity of the banking sector to drive economic and social progress, and to support the green transformation and business competitiveness.
The CEO of the AEB supported the Commission’s initiative on a sustainability Omnibus package aimed at reducing bureaucracy and called for improving the regulatory framework, with greater pragmatism, to drive the green transformation and competitiveness of the European economy. Furthermore, she welcomed the simplification of data required from companies and emphasized the importance of extending this to the information requirements for financial institutions to make it effective.
Regarding the Corporate Sustainability Reporting Directive (CSRD), Abascal highlighted the importance of avoiding new reporting requirements and, instead, providing clear guidance on existing standards. She also advocated for greater coordination among international supervisors and regulators to ensure a level playing field for European banks.
Additionally, she defended the need for a regulatory pause, particularly of the Due Diligence Directive, until the Omnibus negotiation process is completed.
On taxonomy, Abascal called for eliminating ratios such as the GAR that do not generate value for investors or for banks’ own management because they have significant design flaws.
María Abascal also emphasized the need to adopt cross-cutting measures to combat digital fraud in the public, telecommunications, and social media environment, as this is an issue affecting society as a whole. She also advocated for a gradual rollout of the digital euro that fosters innovation and financial stability.
