Informe_Anual_Cecabank

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Page. 37 Cecabank 2015 Annual Report
There are three clear distinctive areas of regulatory action
in the coming years:
Upcoming trends
Completion of the
Banking Union
One of the main priorities for the
European financial system is to
complete the banking union. Now
that the SSM is fully functioning
(albeit pending a fine adjustment
which could have significant effects
through the standardization of
national peculiarities) and the
SRB is also starting to constitute
the Single Resolution Fund, the
third pillar is still pending, i.e.
the creation of a single European
deposit guarantee fund. To this
end, the so-called Five Presidents’
Report recently announced
the relaunch of this initiative,
now called the EDIS (European
Deposit Insurance Scheme). This
is crucial to lending credibility to
the new European framework in
terms of being able to face future
crises on stronger foundations.
Launch of the Capital
Markets Union
An innovative project in this
legislature was the creation of
what has been called a capital
markets union. Its object is to
move towards greater European
integration and to eliminate or
reduce current differences in
accessing financing for businesses
depending on the member state.
One of the keys to this project is to
improve financing for SMEs, with a
view to reducing their depending
on bank funding and making
it easier for them to access the
capital markets. Different measures
have been put in place to this end,
such as the standardization of
simple, standardized, transparent
securitizations and the groundwork
for a future European framework
for covered bonds (which affects
mortgage bonds in Spain).
New solvency regulation
Lastly, the new European
solvency regulation CRR-CRDIV,
stemming from the Basel III capital
agreement, will be gradually
implemented in the coming years.
New measures which are being
put in place, such as the leverage
ratio or stricter limits to risk
concentration, along with the
gradual standardization of risk-
weighted assets, will be crucial
aspects because of their potential
impact on financial institutions.
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