As part of the French Presidency of the Council of the European Union, the French banking federation organized a conference on Thursday 19 May from 9.30 am to 12.30 pm on the theme «For a strong and competitive financial Europe».
The replay of the conference is available on YouTube.
Recent events have proved the solidity, resilience and ability of European banks, and French banks in particular, to support the economy in what are often highly difficult contexts. The banking sector is determined to continue playing a leading role in financing growth and the digital and climate transitions. These transitions will call for substantial investments, totalling some €125bn a year for the digital transition and €330bn to €350bn a year for the climate transition, for at least a decade. Looking beyond technical aspects, the transposition of the Basel agreements in the European Union is an eminently political issue, one that constitutes the meaning of the mandates given by the French and European authorities to these regulatory projects where they required that they not be reflected in additional capital. Yet in its current form, the transposition will not enable European banks to support the economy and society in these transitions over the long term.
It is crucial, then, to strike the right balance between security (the tying up of bank capital) and growth to respect the political mandate given by the authorities, namely an update of the rules taking into account the specific characteristics of our economies and the assurance of a fair degree of competition with other continents. This is a vital prerequisite for strong business and a European economy that serves European citizens.
Commenting, Nicolas Théry, Chair of the FBF, said: “The relevance of our universal and relational banking model and the support it provides to customers are a major asset for our economies that continues to demonstrate its worth. European banks, and French banks, need to continue pushing the European economy towards greater sustainability, dynamism and innovation. To meet this challenge, the financial autonomy of Europe must be considered as a priority and strategic. This must be reflected in practical terms during negotiations on the Basel agreements with the application of an output floor at the highest level of consolidation, the continuation of exemptions for real estate loans and non-rated companies, a 100% weighting of strategic investments, and a competitive alignment of market risks.”
• Nicolas Théry, Chair of the FBF
• Irene Tinagli, Member of the European Parliament, Chair of the Economic and Monetary Affairs of the European Parliament (video)
Panel: Role of banks in financing growth
• Christian Ossig, Chief Executive of the Association of German Banks
• Sigurd Næss-Schmidt, Partner, Copenhagen Economics
• Maya Atig, Chief Executive Officer of the French banking federation
Panel: Financing the green and digital transition
• Jörg Kukies, State Secretary, German Chancellery
• Fabrice Le Saché, Vice-chairman and spokesperson of the MEDEF
• Monique Barbut, President at WWF France
• Carine Kraus, Executive Director of Engagement, Carrefour Group
• Étienne Barel, Deputy Chief Executive Officer of the French banking federation
• Mairead McGuinness, European Commissioner for Financial Services, Financial Stability and Capital Markets Union
• Nicolas Théry, Chair of the French banking federation