The European Banking Federation (EBF) is the voice of the European banking sector, with over €20,000bn assets and 2.3 million employees in 30 European countries.
The European Banking Federation is the united voice of banks established in Europe. It is a forum where best practices are exchanged, legislative proposals and initiatives are debated and common positions adopted.
The EBF represents, defends and promotes the interests of its members, promotes the development of the industry, provides value-adding information and efficient and professional services to its member associations and assists new members in their accession procedures, be it to the EU itself or to the euro.
To position the European banking industry within the European and global regulatory frameworks, EBF explains that it is the partner of choice for the European institutions in laying out their legislative initiatives. Its aim is to ensure that the experience and the views of banks are taken into consideration in the shaping of relevant policies. The EBF also actively promotes the views of the European financial services, and in particular the banking industry.
EBF INITIATIVE
Timed to coincide with the EU-US Summit, held recently in Washington DC, the EBF reiterated its views on the New Transatlantic Economic Partnership (NTEP) initiative launched by the German Presidency.
The EBF states that it generally supports the initiative and particularly that of increased regulatory coordination between the EU and the US and hopes that such summit talks will lead to greater cooperation.
The EBF points out that the Financial Markets Regulatory Dialogue (FMRD) has achieved valuable outcome since its launch in 2002. European banks would, however, wish for a broader and more intense cooperation within that framework, linked to more transparency and consultation. The EBF signals its hopes that the FMRD can become a coordination tool for major financial services legislation and regulation. Finally, banks stress that the extra-territoriality of unilateral US measures adds undue pressure on the transatlantic economic relationship, with particularly negative effects on the banking sector.
'We really believe that more regulatory coordination between the world's two largest single markets is crucial if we are to enhance the benefits for financial institutions, enterprises, and consumers, on both sides of the Atlantic alike,' says Guido Ravoet, EBF Secretary General.
EBF guiding principles
To ensure that the reputation and standing of the banking sector accord with its social and economic importance.
To support EU policies to promote the single market in financial services in general and in banking activities in particular.
To promote better regulation in the EU, and win support for regulatory convergence abroad.
To advocate free and fair competition in EU and world markets.
To support banks' efforts to increase their efficiency and competitiveness.
To raise awareness of the importance of CSR in the banking sector and to raise awareness of banks' work in the area of Corporate Social Responsibility, and exchange information on their achievements in this field.
