The Commission has proposed reforms to pave the way for further financial integration and a full Capital Markets Union, to promote jobs, growth and investments in Europe and to strengthen the Economic and Monetary Union. Commission President Juncker underlined the importance of the Capital Markets Union, one of the Commission's flagship projects, in his State of the Union Address. The proposals outlined on 20 September also include steps to foster the development of financial technologies (FinTech) and to make sure that sustainability considerations are systematically taken into account in supervisory practices at the European level. Once adopted, the proposals will improve the mandates, governance and funding of the European Supervisory Authorities for banking (European Banking Authority, EBA), for securities and financial markets (European Securities and Markets Authority, ESMA), and for insurance and pensions (European Insurance and Occupational Pensions Authority, EIOPA).