- To enhance EU banks and investment firms' resilience and thus enhance financial stability;
- To improve banks' lending capacity to support the EU economy;
- To further facilitate the role of banks in achieving deeper and more liquid EU capital markets.
The package also implements the Total Loss-Absorbing Capacity (TLAC) standard that is applicable to global systemically important banks, adopted by the G-20 in 2015. The legislative proposals now go to the European Parliament and the Council for their consideration and adoption.
The Commission has also set out proposals for a number of areas where it believes targeted follow-up action is needed to fine-tune the EU's financial services framework. The proposals are the result of a comprehensive consultation ('call for evidence') with over 300 responses gathered over the past 14 months.
Complementing this follow-up to the 'call for evidence', the Commission also published a report on the review of EMIR, the Regulation on over-the-counter (OTC) derivatives, central counterparties and trade repositories.
Watch recording of press conference
Read more on the EU banking sector, the 'Call for evidence' and EMIR
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