Representatives of the World Institute of Savings Banks and Retail Banks Meet in Madrid to Discuss International Banking Regulation
Delegates from 16 countries gathered at the Coordination Committee of ESBG-WSBI, with the presence of Antonio Carrascosa, Councilor of the Single Resolution Mechanism (MUR), and David Wright, Secretary General of IOSCO.
Mr. Wolfgang Neumann (Germany), President of the Committee, and Mr. Antonio Romero (Spain), Vice President, were reappointed to their positions until 2018.
Today marks the end of the meeting of the Coordination Committee of WSBI-ESBG (World Savings and Retail Banks Institute-European Savings and Retail Banks Group) in Madrid. The meeting, which included representatives from 16 countries, took place over two consecutive days and discussed issues such as the impact of banking regulation, digitalization, and the integration of the capital markets, among other challenges. Additionally, preparations for activities to be held worldwide in celebration of World Savings Day, which is observed on October 31, were finalized.
The Committee members approved the reappointment of Mr. Wolfgang Neumann (from the Association of German Savings Banks), current President, and Mr. Antonio Romero, Vice President of the Committee and Deputy Director of the Associative Services and Audit Area of CECA. Both will retain their positions for the 2015-2018 period.
The Committee coordinating the activities of the World Institute and the European Group of Savings Banks and Retail Banks (the latter chaired by Mr. Isidro Fainé) has defined a common strategy regarding the European Commission’s package of measures on the Capital Markets Union. Attendees emphasized the importance of bank credit as a source of financing for the real economy.
Antonio Carrascosa, Executive Councilor of the Single Resolution Mechanism (MUR), participated in the meeting to explain the progress made in establishing this authority, which constitutes the second pillar of the European Banking Union.
Additionally, David Wright, Secretary General of IOSCO (International Organization of Securities Commissions), based in Madrid, was invited to present a global perspective on the markets. Wright considers “greater coordination of international regulation, especially in the area of capital markets,” to be necessary.
Another agenda item of the meeting was the Strategic Alliance to achieve the goal of Universal Financial Access. Members of this organization committed to add 400 million accounts to reach 1.7 billion customers by 2020 through the strategic alliance signed with the World Bank last September in Washington.
