30th Meeting of the Financial Sector

The General Director of CECA, José María Méndez, has brought to light the absence of a single deposit guarantee fund, one of the objectives included in the Banking Union project.

During his speech at the 30th Meeting of the Financial Sector organized by Deloitte and ABC, he coincided with the President of the European Banking Authority (EBA), José Manuel Campa, in stating that the sector “is still in an insufficient situation regarding the objectives” of the Banking Union.

He asserted that there has been “considerable” progress on issues related to supervisors, especially in the area of banking resolution, but particularly emphasized the lack of a single deposit guarantee fund that would cover these products up to 100,000 euros.

He also highlighted that after ten years since the implementation of the Banking Union, there has been no relevant cross-border operation due to a harmonization issue, where he pointed out the existence of “differentiated” taxes among European countries.