The President of EMEA, Prof. Rym Ayadi, Professor at The Bayes Business School and Chair of the Banking Stakeholders Group (BSG) of the European Banking Authority (EBA) along with the EBA Chairperson José Manuel Campa and EBA-BSG Vice-chair Eduardo Avila Zaragoza gave the welcome speeches at the EBA Banking Stakeholder Group Workshop on the Finalisation of Basel III under the banking package.
The banking package published in October 2021 came in the right time, amidst the covid 19 pandemic, a period in which EU banks have been acting, with public support and relaxed regulatory measures, to keep the real economy afloat. These new rules, if implemented with right measure, standards, and calibrations, will ensure that EU banks will become even more resilient to face future shocks, while accelerating the economic recovery post covid 19 and the transition to climate neutrality.
The package is comprehensive and should become the cornerstone for the future resilience of EU banking via:
1) Strengthening resilience to economic shocks
2) Accelerating the sustainable transition
3) Enhancing supervision aimed to manage systemic risk and protect financial stability
The event took place online on 26 January 2022 and provided a forum for stakeholders to exchange views on, and discuss the legislative proposals presented by the European Commission on October 27, 2021 for amendments to the Capital Requirements Regulation and Directive (CRR/CRD). Attendance at the event was restricted to BSG members, EBA staff, representatives of national competent authorities and of relevant EU institutions, as well as a limited number of academic experts and stakeholder representatives.
In her concluding remarks, Prof. Ayadi encouraged Banks, regulators and supervisors to work hand in hand to ensure the package is implemented with appropriate calibration and will reach its intended objective, particularly when the evidence shows no tangible negative impacts on funding the real economy and a positive effect is granted in the long term.
Prof. Rym Ayadi chairs the EBA’s Banking Stakeholder Group. BSG is composed of 30 members appointed to represent in balanced proportions credit and investment institutions operating in the Union, their employees’ representatives as well as consumers, users of financial services, academics and representatives of SMEs. The EBA consults the BSG on the EBA’s proposals for technical standards, guidelines and recommendations concerning banking regulation.