Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Dodd–Frank Wall Street Reform and Consumer Protection Act wikipedia , lookup
Troubled Asset Relief Program wikipedia , lookup
Patriot Act, Title III, Subtitle A wikipedia , lookup
Financial crisis wikipedia , lookup
Financial crisis of 2007–2008 wikipedia , lookup
Systemically important financial institution wikipedia , lookup
The Savings Banks Industry in Europe and worldwide The role of ESBG/WSBI The European Savings Banks Group (ESBG) 1963: Establishment of the European Savings Banks Group, based in Brussels ESBG: European banking association representing the interests of savings and socially committed retail banks Forum for cooperation and exchange of experiences Platform for joint initiatives, facilitating cross-border projects in the banking sector ESBG in figures 29 Members (banks and associations) from European countries (incl. 20 EU countries) Banks represented: Branches: Total assets: Non-bank deposits: Non-bank loans: Staff: 864 60,899 6,061 billion €2,935 billion €1,685 billion 950,000 = 1/3 of Europe’s Retail Banking Market 26 The European Savings Banks Group (ESBG) Added-value of the ESBG: => Forum for cooperation Business Cooperation Promotion and facilitation of cooperation and exchange between members on a bilateral/multilateral basis to: achieve a more global outreach accompany their customers abroad Current Projects: The International Business Network The International Business Network Capital Markets Committee The World Savings Banks Institute (WSBI) 1924: Creation of the International Savings Banks Institute in Milan, subsequently based in Geneva Objectives: 1. International advocacy: promotion of proximity banking through the savings banks model 2. Vehicle for cooperation between members; 3. Training and consultancy Institution building; Organisation and operations development; Management and staff training; Research and policy formation projects; Track record in 70 countries since 1992 WSBI in Figures Europe: 36 Members 30 countries Asia-Pacific: 22 Members 16 countries Americas: 16 Members 13 countries Africa: 37 Members 31 countries 110 members from 90 countries Only international retail banking organisation worldwide! Institutions represented: 6000 (January 2009) Branches: 162,000 Total Assets: Non-Bank Deposits: Non-Bank Loans: €9,000 billion €4,637 billion €4,363 billion Staff: 1,000,000 A changing environment Our Members: from pure savings banks to socially committed retail banks embodying stakeholder model From “European Savings Banks Group” to “ESBG- the voice of savings and retail banking” representing efficiently operated, competitive financial institutions, following common characteristics: Retail: active in providing retail financial services for individual consumers, households, SMEs, local authorities Regional: broad decentralised distribution network, providing local and regional outreach = proximity bankers Responsible: socially responsible approach to business and bringing a return to society Our first objective : Interest Representation Importance of Lobbying at European level - 80% of legislation related to the banking sector comes from the EU - 3 horizontal banking associations in Brussels - ESBG only one raising profile of ALL its members, since Well-defined entities represented: 3R’s Coherent and egalitarian approach towards members Thus, opinion of all members taken into account (not only the one of bigger institutions) ESBG’s long-term lobbying activities (1/3) Lobbying of EU institutions on ALL financial services related regulatory and policy initiatives (1): Review of the rules on capital requirements (Basel III, CRD IV) Deposit Guarantee Schemes Capital markets related issues, including MiFID Consumer and SME Policy issues Fight against money laundering (AML) Payments, SEPA ESBG’s long-term lobbying activities (2/3) Lobbying of EU institutions on ALL financial services related regulatory and policy initiatives (2): Delivering long term perspective (for instance for internal studies) combined with concrete responses to consultations (joint position papers) Monitoring and real time information on key developments Use ESBG as a platform for exchanges of views and experiences between Members ESBG’s long-term lobbying activities (3/3) OUR OBJECTIVES: - Promote Pluralism of the European banking industry - Advocate for the recognition of sustainable and responsible banking - - Principle of subsidiarity: Create an EU framework for retail financial services respectful of national specificities and market practices Proportionality Level playing field:Level regulatory playing field: « same business, same risks, same rules » ESBG’s current lobbying files (1/6) Basel III: Our members’ concerns: Stronger capital framework: stricter definition of capital; tackling pro-cyclicality; introduction of leverage ratio; address counterparty credit risk Our response: Urging global regulators to take specificities of non-joint stock companies and retail banking structures into account when transposing the Basel III framework into EU legislation; Pointing at cumulative effects of the regulation on smaller, decentralised financial institutions, which support the real economy Constant lobbying in front of Basel Committee, Commission and European Parliament, which is our closest ally in this respect ESBG’s current lobbying files (2/6) Deposit Guarantee Schemes (1) ESBG advocates for: - Decreasing the target level of the fund (the total target level should be 1% instead of 2%) - Target level: reference should be made to covered deposits, i.e. the eligible deposits not exceeding the coverage level (instead of eligible deposits, i.e. deposits that are not excluded from protection) - In a first step limiting the payout on the nominal value, pay out interests in a second step ESBG’s current lobbying files (3/6) Deposit Guarantee Schemes (2) ESBG advocates for: - Eliminating the possibility of cross-border borrowing mechanism between the schemes - Introducing longer transition periods (the different deadline, the shortest being December 2012, should all be prolonged to ensure smooth transition and avoid an excessive burden) ESBG’s current lobbying files (4/6) Deposit Guarantee Schemes (3) ESBG is opposed to: - Questioning of mutual and voluntary schemes (these schemes function well and provide safety and reliability in addition to the classical function of payout of Deposit Guarantee Schemes) - Discontinuing the possibility of set-off (instead this practice should be continued as a national discretion) - Shortening the payout delay to 7 days (instead it should be kept at 21 working days, which is already ambitious) ESBG’s current lobbying files (5/6) Debate on harmonisation of rules on responsible mortgage lending and borrowing at EU level Commission’s aim: Limit focus to EU mortgage credit, in particular the pre-contractual stage of mortgage credit (including obligation to assess creditworthiness and suitability) and regulation of credit-intermediaries ESBG is opposed to EU mortgage credit regulation due to local nature of market and demand = continues to pursue lobbying activities in European Commission and Parliament ESBG’s current lobbying files (6/6) Other ESBG current key topics: Bank fees Commission preference for standardised sheet for presentation of bank fees ESBG approach: potential self-regulation with EBIC and considering the implications of different regulatory avenues International and EU level discussions on bank levies and taxes (set-up of Task Force) Main concern: risk of over-regulation WSBI’s lobbying activities Challenges at international level focuses on: ACCESS to FINANCE & Fight for FINANCIAL INCLUSION In this context, promotion and constant support of members’ financial inclusion activities all around the world; Recognition by Bill and Melinda Gates Foundation, which granting multi-million USD project for WSBI members in 10 countries to double the number of savings accounts for the poor ESBG/WSBI OUR response to the challenges CONSTANCE “STANDHAFTIGKEIT” in: Values: responsible banking, relationship oriented vs. transaction oriented banking Banking Model: regional, responsible, retail benefiting the real economy • Message: Importance of Proportionality; Risk of cumulative effects of regulatory proposals on our members, especially on their lending capacity and their constant support to the real economy = The crisis is an opportunity, due to the overall recognition of the advantages of our members’ banking model