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The FBF favours a single supervision mechanism for European banks

The French Banking Federation (FBF) welcomes the European Commission's proposals for a single supervision mechanism for all euro-zone banks, which would be implemented gradually from 1 January 2013 to increase stability in the euro area.


French banks are in favour of stronger European supervision, since this would help foster the construction of an integrated financial Europe and the consolidation of the Monetary Union. In this regard, they view positively the proposal for a single supervision mechanism, in close cooperation with national central banks. The expertise and proximity of national supervisors are essential guarantees of the effectiveness of the future European system.


The FBF wants the future mechanism to preserve the effectiveness of financial regulation and the smooth functioning of the single European market. Therefore, the same rules should be applied in all Europe. In this regard, it is essential that all euro-zone banks should be submitted to the same supervision.


Besides the European supervision system, the proposal foresees the creation of an integrated deposit guarantee fund for the euro zone and a crisis resolution and prevention fund. The FBF is favourable to a European framework for preventing banking crises. It will study closely the consequences of this project.


Lastly, the FBF underlines that this entire project must form part of a broad economic and fiscal framework designed to restore investors' confidence in the euro zone and to facilitate a return to growth.

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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