We are pleased to share our latest Bank Governance Leadership Network (BGLN) ViewPoint titled, The future of banking in Europe: regulation, supervision and a changing competitive landscape.
The European Central Bank’s (ECB) role as a single regulator and supervisor for the Eurozone has become a key part of the transformation of European banking. Through the Single Supervisory Mechanism (SSM), the ECB wants to establish itself as a strong regulator and ensure the stability of the European banking system.
Recently, regulators from the ECB joined European banking leaders at a BGLN roundtable in Frankfurt. They discussed the SSM’s forward-looking agenda and priorities for 2016. They also debated what structures would best allow banks to support economic growth and the transformation needed to compete in the context of continued political, regulatory, and market pressure for global banks.
The roles and expectations for Non-Executive Directors (NEDs) were also considered and what an appropriate level of engagement, understanding and detail should be. Participants also discussed how much more engagement the SSM would have with NEDs.