Capital markets union CMU
The first is for the ECB to ensure that bank liquidity can circulate freely in the Eurozone. This is a key requisite for any well-functioning financial system.
Surprisingly, this is still not the case, especially for banks that operate in different jurisdictions.efter EMU
The reason is that some national authorities use loopholes in European legislation to prevent banks from using deposits collected in one country to finance credits made in other countries.
For example, having different requirements across Eurozone countries on the amount of capital banks need to hold as cyclical buffers does not make much sense.
Last, but not least, the ECB should support the postponement of the adoption of the so-called Basel III reforms related to bank trading activities until at least 2027
Lorenzo Bini Smaghi Financial Times 20 February 2025
Chair of Société Générale and a former member of the executive board of the European Central Bank
Draghi, Smaghi and The German constitutional debt brake
Riksbanken vill att EU följer Basel III
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