Banking Union – annual report 2023

Tabled by Philippe Lamberts

9. Removed: Calls on the Commission to assess impediments to cross-border mergers as well as potential incentives for ring fencing; takes note that, according to a public statement by Andrea Enria, Chair of the ECB Supervisory Board, the banking sector is still, by and large, a collection of national banking sectors; notes that a more integrated EU banking sector could enhance banks’ ability to undertake strategic investments and foster the development of EU capital markets, while acknowledging that the diversity of banking business models in the euro area enhances the resilience of the financial system; notes Added: Notes the risks that ‘too big to fail’ institutions Removed: could entail, and notes that financial stability could be increased by a Added: entail, and calls for a structural reform of EU G-SIBs that addresses moral hazard risks Removed: highlights that cross-border consolidation without excessive concentration could increase the profitability of the EU banking sector, and potentially improve the current situation of reduced services offered and increased costs for citizens in many Member States; Added: and contributes to financial stability;

Wording as published by the EP, in English. PE756.737