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Liikanen Report - Isolating "high-risk" activities should not put comprehensive client service at risk

The French Banking Federation (FBF) has just read the Liikanen group's report on reforming the structure of the European banking sector.


The FBF notes with interest that the report recognises the French universal banking model's effectiveness in serving clients. In fact, it believes that satisfying the needs of the economy and all of its clients must be the basic condition for any reform affecting the banking system's structure.


However, the Liikanen report, which recommends isolating "high-risk" market activities while ruling out separation as defined by the Glass Steagall Act, leaves many questions unanswered that should be studied within the framework of the consultation launched by the European Commission.


In particular, it would be wise to ensure that the basic purpose of financing the economy is respected, as well as comprehensive client service. Measures that would result in a disproportionate cost increase, or even the disappearance of certain market activities that are useful to the economy, must be avoided. They would destroy the European economy's competitiveness and, as a result, its growth and employment levels.

CONTACT

Colette Cova
email : ccova@fbf.fr
Tel : 01 48 00 50 07

Céline Thomas
email : cthomas@fbf.fr
Tel : 01 48 00 50 70

 
 
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