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Europe needs fewer banks, says banking group chief


Europe needs fewer banks, says banking group chief
US Ireland 2021 summit hears a capital markets union is crucial as push under way at EU regulatory level to have bigger banks that are ‘safer’
4th July, 2021
Brian Hayes: ‘A big push is happening at an EU regulatory level to have bigger banks that are safer. A capital markets union in Europe is crucial to that. Picture: Fergal Phillips
Europe needs fewer banks and for more of them to be bigger, according to Brian Hayes, chief executive of the Banking and Payments Federation of Ireland.
“We have too many banks in Europe. A big push is happening at an EU regulatory level to have bigger banks that are safer. A capital markets union in Europe is crucial to that,” Hayes said. ....

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gov.ie - Opening statement by Minister Donohoe to Seanad Éireann on the Future of Banking in Ireland


Opening statement by Minister Donohoe to Seanad Éireann on the Future of Banking in Ireland
Thank you Cathoirleach for the opportunity to discuss the future of banking this afternoon.
I will open today’s discussion by updating you on what I see as some of the key issues: the impact of COVID-19 and our response; the changing retail financial sector environment and the challenge for banks to secure an appropriate return; as well as the continuing effort to improve regulation and rebuild trust in the banking system in this country through measures such as the Senior Executive Accountability Regime (SEAR). ....

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