Inclusive and sustainable Banking Union

Key points:

The EESC

• believes it would be useful to further increase the proportionality of banking rules, without sacrificing the effectiveness of prudential rules;
• endorses the recent decision to push back the date for implementing the Basel III accord, and feels that when the time comes, the new provision on capital requirements should be transposed in a way that caters properly for the diversity of banking business models in Europe;
• calls for greater recognition of the unique role played by both small regional and community banks as well as by the larger cooperative banks. In cases where the latter contribute to systemic risks, this must be duly taken into account in regulation and supervision;
• believes that European banks, including regional and cooperative banks, will play a key role in economic recovery following the COVID-19 emergency, supporting the economy and employment;
• is convinced that a diversified banking system, fed into by a range of stakeholders and rooted in regions and local communities, is also an important guarantee for preserving shared, participatory social responsibility of citizens, SMEs and individual economic operators substantially involved in the real economy.