The Italian Banking Association adheres to the "Markets4Europe" campaign, initiated by the European Banking Federation in synergy with the world of economics, finance and institutions with the aim of promoting, supporting and accelerating the creation of an integrated European capital market , broad, liquid and open to full competition.
"The Union of capital markets - declares the Director General of ABI, Giovanni Sabatini, who is also President of the Executive Committee of the European Banking Federation - represents a further crucial objective towards a full and complete economic-financial integration at European level . The capital market, which joins the Banking Union and integrates it, not only represents an additional source of financing for companies but at the same time plays a fundamental role for the issuance and trading of bank securities. This latter aspect is particularly relevant in view of the issue of securities to meet the new banking prudential requirements (Mrel). Among the prerequisites for the realization of a complete Union of capital markets - continues Sabatini - there are the simplification and efficiency of the EU legislative and regulatory framework: companies and financial intermediaries need few rules, simple and consistent with those of international markets. The rules must be uniform and uniformly applied in all the States of the Union. In this sense, the Italian Banking Association supports the 'Markets4Europe' campaign, with the aim of contributing, together with all the actors involved, to the common goal of accelerating the reform process underway ”.
The “Markets4Europe” campaign, conceived in a perspective of collaboration between the public and private sectors, has so far gathered the adhesion of personalities from the world of institutions, both national and community, which is entrusted with the role of leading figures in the project. The initiative's 'leadership group' will use the support of a select representation of senior management (CEOs) of companies, banks, market infrastructures and large investors: four key sectors involved in capital markets. To support them, with the role of observers, representatives of the Supervisory and Regulatory Authorities (for example the ECB).
"Markets4Europe" was created with the aim of translating into concrete ideas for EU legislators the requests and needs that emerge from all the subjects that act in the capital markets and that will result in a programmatic report whose distribution is scheduled for October / November 2019. The campaign will be launched on the next 2 October, with an ad hoc event to be held in Brussels, and will develop until the middle of next year: the promoters' intention is to offer a concrete contribution to the political debate, in order to create a widespread consensus on the need to include the expected structural reforms that will best guide the realization of the Union of capital markets in the Community legislative agenda for the five-year period 2019-2024.
In concrete terms, the October 2 event will offer an opportunity to imagine a 'road map' of expected reforms. A series of conferences will take place between November 2019 and June 2020 in various European countries to promote the reformist agenda and catalyze consensus on the package of actions to be taken. The German economic research institute "Institut der deutschen Wirtschaft" (IW) will directly manage the campaign, which will benefit from the support of the European Banking Federation and other national banking associations, including the ABI.