Current Challenges of the EU Banking Sector Viktorija Proskurovska Adviser, European Banking Federation 9th International Banking Forum Podgorica, 9 May.

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Presentation transcript:

Current Challenges of the EU Banking Sector Viktorija Proskurovska Adviser, European Banking Federation 9th International Banking Forum Podgorica, 9 May 2008

9 May th International Banking Forum Podgorica, European Banking Federation EBF was founded in Today it has 31 Member associations and 11 Associate members. Through its Members alone, the EBF represents some 5000 banks with an estimated contribution of 5% to the areas GDP and 1.5% of the areas workforce.

9 May th International Banking Forum Podgorica, Bank Loans in EU-27, 2006 The total EU banking sector assets is threefold the areas GDP; Deposits represent some 125% of GDP; Loans over 130% of GDP.

9 May th International Banking Forum Podgorica, Outline of Current EBF Priorities Banking Supervision Financial Turmoil Economic and Monetary Affairs Consumer Affairs Retail Integration Tax Accounting Payment Services Directive

9 May th International Banking Forum Podgorica, Policy Considerations on the global financial crisis: 1.Bringing confidence back to the markets; 2.The October 2007 ECOFIN Roadmap on financial markets is a sensible approach going forward; 3.Market-led efforts are under way; 4.Pragmatic actions to be sought to solve the current crisis; Task Force on Financial Turmoil

9 May th International Banking Forum Podgorica, Crisis is not originated by a failure of Basel II; 6.National supervisors to apply their powers to achieve relevant information disclosure; 7.More decisive action from authorities is needed; 8.It is not the time yet for final lessons. Task Force on Financial Turmoil

9 May th International Banking Forum Podgorica, Transparency of structured products: focus on Pillar 3 Disclosures in the Area of Structured Credit Products: Questionnaire for investors and counterparties; Analysis of current Pillar 3 Requirements (Implementation Study); Paper on Industry Good Practices. EBF Work on Basel II

9 May th International Banking Forum Podgorica, Thank you for your attention! For contacts: Viktorija Proskurovska Adviser – Economic and Monetary Affairs, Associates European Banking Federation