Simplifying regulation would increase the banking sector’s financing capacity in Spain by €250 billion

• The banking sector plays a central role in addressing the investment needs of the European Union to be a benchmark for progress, innovation, and well-being.
• The report ‘Banking for a Stronger Europe. Simplification, Integration, and Competitiveness’, prepared by EY, proposes eight measures that would result in an increase of over €2 trillion in new financing capacity for the banking sector in Europe.
• The document anticipates that implementing these measures would enable Eurozone GDP to grow by 2.7% (+3.4% in Spain) and the creation of 2 million jobs in Europe (300,000 in Spain).
• This is not about deregulation, but about reconciling the objectives of financial stability with more efficient, proportionate, and coherent regulation and supervision, along with greater European financial integration.

Madrid, June 19, 2026. Boosting the competitiveness of the banking sector is a lever for economic growth, due to the central role of banking in responding to the investment needs of the European Union—exceeding €1.2 trillion annually—to be a benchmark for progress, innovation, and well-being.

This is the main conclusion from the event “Competitiveness for Growth,” organized by the Asociación Española de Banca (AEB), CECA, and the Unión Nacional de Cooperativas de Crédito (Unacc), where it was argued that the simplification agenda does not imply deregulation but reconciling the objectives of financial stability, customer protection, and operational resilience with more efficient, proportionate, and coherent regulation and supervision, and a deeper European financial integration.

The banking associations have outlined the main conclusions of the report ‘Banking for a Stronger Europe. Simplification, Integration, and Competitiveness’, prepared by EY, which shows the diagnosis of the current context, eight measures for a more competitive banking sector, and the detailed impact of the banking regulation simplification agenda.

The document estimates that implementing these measures would result in an increase of more than €2 trillion in new financing capacity for the banking sector in Europe, which in the case of Spain would be €250 billion. On a macroeconomic level, the Eurozone GDP could grow by 2.7% (+3.4% in Spain) and 2 million jobs would be created in Europe (300,000 in Spain).

Among the proposed measures, the completion of the Banking Union stands out, which would add between €40 billion and €115 billion per year to the GDP of the European Union; and the development of an effective Capital Markets Union, with an impact of between €45 billion and €120 billion.

The President of the Asociación Española de Banca (AEB), Alejandra Kindelán, has stated that “Europe has all the economic and social potential to be a global reference for progress, innovation, and well-being. Therefore, this competitiveness agenda requires courage and political determination. It is not merely a technical issue; it is a strategic decision. The economic strength of Europe in the coming years depends on how and how urgently we resolve this.”

“We have reached a state of overregulation that is reducing financing capacity in Europe. Over the past few years, there has been an exponential regulatory inflation, which is one of the causes that have led us to a competitiveness deficit in Europe. We need to review the regulatory framework and make the regulation more predictable and stable to achieve a balance between financial stability and economic growth,” stated Antonio Romero, the General Director of CECA.

Meanwhile, the President of the Unión Nacional de Cooperativas de Crédito (Unacc), Manuel Ruiz Escudero, concluded his remarks by stating that “in an increasingly demanding financial environment, proportionality is not an option, but an urgent necessity.”

The event featured participation from Carlos Cuerpo, First Vice President and Minister of Economy, Trade, and Business; Frank Elderson, Vice President of the ECB Supervisory Board; José Luis Escrivá, Governor of the Bank of Spain; Fernando Restoy, President of the Financial Stability Institute of the BIS; José Manuel Campa, former President of the European Banking Authority (EBA); Carlos Torres Vila, President of BBVA; Gonzalo Gortázar, CEO of CaixaBank; and Héctor Grisi, CEO of Banco Santander.