- Capital markets key to financing transformation
- Securitisations belong at the top of the agenda in 2024
- Smart regulation needed
“Europe is a continent of opportunities, and always has been. We aim to do our utmost to support this Europe,” said Heiner Herkenhoff, CEO of the Association of German Banks, today in Brussels. He stressed the importance of a joint approach by the European Union, particularly in view of the European elections coming up in June of next year. Taking a nationalistic and fragmented approach, however, would lead nowhere. “It would weaken Europe’s position in international competition.”
The association’s CEO again called for greater efforts to strengthen Europe’s capital markets. Europe needs a deep and competitive capital market. “Without the involvement of the capital markets, the financing of the Green Deal would be on shaky ground. The question of how Europe finances the investment required to achieve a climate-neutral economy, is a key question,” said Heiner Herkenhoff.
“The next EU Commission should urgently carry out a comprehensive review of securitisation rules. Securitisations are the bridge to the capital market, and the Commission should start building this bridge as quickly as possible.” After the European elections, the private banks are hoping the Commission focuses on smart regulation that does not see competitiveness and stability as opposites, but rather as building blocks to achieve future goals.