Position paper on deepening the capital markets

Deep and efficient EU financial markets are vital for the financing of the EU’s upcoming challenges – in particular, the transformation or transition of our economy. This realisation, and as a result, the goal of completing EU capital markets union is gaining increasing support. However, current political measures – and the development of the market – remain insufficient. Given that the 2024 European Parliament election is taking place and a new EU Commission will be formed this year, it is vital that the EU continues to press ahead tenaciously with this project.

The Association of German Banks has supported capital markets union from the very beginning. This position paper first sets out the guidelines for further progress that are important from the private banks’ perspective – in particular, the right mindset that all measures have a stronger focus on developing the competitiveness of the markets and a greater degree of pragmatism going forward. Our paper also highlights the link between the stability, integrity and competitiveness of the markets. The paper then presents details of the important measures that are appropriate for strengthening the EU capital markets.