Commissioner Albuquerque hosted the first dialogue with the top management and heads of the Single Supervisory Mechanism (SSM), the Single Resolution Board (SRB), the European Banking Authority (EBA), the European Central Bank (ECB), and the Chair of the Economic and Financial Committee (EFC) to discuss strategic priorities for the competitiveness of the EU banking sector.
Participants engaged in a constructive dialogue focused on reinforcing the efficiency and competitiveness of European banks while maintaining financial stability and resilience in the system. The discussion emphasised the importance of enhancing risk culture and the importance of cooperation among EU institutions and authorities. These elements are needed to foster a banking environment capable of supporting the European economy and its competitiveness.
Taking a holistic view, participants to the meeting concluded with a strong consensus on the following
- economic effects of supervisory and resolution activities: Technical teams from the respective authorities together with the Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) will have further discussions on the economic effects of supervisory and resolution activities on banking sector competitiveness and identify where possible improvements could be made, including concerning applicable regulatory requirements, processes, the coordination of authorities’ activities and other procedural requirements
- reporting: the Commissioner welcomed the ECB, SSM, SRB and EBA efforts in their joint development of the integrated reporting system (Joint Bank Reporting Committee) and the work to streamline data collection and reduce the administrative burden on financial institutions. The Commissioner also invited participants to identify and suggest potential changes where legislative action to support streamlining reporting may be required. The discussion showed the importance of enhancing data sharing amongst European and national authorities. Participants will also be sharing with the Commission concrete use cases where cooperation could be further strengthened (including to better facilitate international cooperation) and risk of duplication of reporting reduced
- soft‑law: Consensus was reached on the need to step up the transparency and communication efforts in relation to what is soft law, e.g. to clarify that guidance is non‑binding. The Commissioner also invited participants to suggest whether concrete legislative changes or certain best practices would help clarify the distinction between binding requirements and non‑binding guidance
Participants agreed that a second dialogue will be convened in early 2027.
