CECA considers an evaluation of the global impact of regulatory measures affecting the European financial system to be necessary

At the financial sector meeting organized by Expansión and KPMG, the General Director of CECA, José María Méndez, defended the need for an assessment of the combined impact of all regulatory measures implemented by various European regulatory and supervisory authorities. In this regard, Méndez commented: “This evaluation is necessary before adopting new requirements.”

However, CECA appeals for the need to implement the agreements already adopted. For example, the completion of the Banking Union, which will allow for the existence of a European deposit guarantee fund. He also emphasized the importance of incorporating the international agreement of “Basel IV” into European regulation, which will facilitate a greater comparability of the ratios currently used regarding solvency.

Moreover, Méndez explained that all economic operators need society to clearly perceive the value that banks contribute to the economy. In this regard, he believes that to strengthen customer confidence, it is necessary to more transparently convey the role that banks play in financing the projects of entrepreneurs, housing, and SMEs, as well as the channeling of savings and investment.

Finally, he pointed out the challenge that credit institutions face in transitioning towards a more sustainable economy. In this regard, Méndez stated that “it is an opportunity to be closer to our clients’ concerns.” To this end, banking associations have launched FINRESP, the Center for Sustainable and Responsible Finance in which CECA, AEB, UNACC, UNESPA, and INVERCO participate. The objective of this center is to promote and study sustainable finance in Spain.