The European Think Tank dedicated to Financial Services
- A not-for-profit organization created in 2000.
- A platform for exchanges between the financial services industry and the public authorities addressing issues related to the evolution of financial regulation and supervision and the economic and monetary context impacting the EU financial sector
The membership of Eurofi comprises many leading global and European financial institutions from different sectors of the industry (banking, insurance, market infrastructures, asset management, credit rating agencies…).
The main objectives of Eurofi are to help industry and public decision-makers reach a common understanding of possible evolutions required in the regulation and supervision of financial services and to open the way to legislative or industry-driven solutions that may enhance the safety and effectiveness of the EU financial sector and its contribution to economic growth.
Eurofi acts in a general interest perspective, facilitating exchanges of views between diverse financial industry players and the public authorities. These exchanges are prepared by objective fact finding and issue analyses.
Events and meetings:
- Eurofi organizes annually two major international events (the High Level Seminar in March / April and the Financial Forum in September) gathering industry leaders and EU and non-EU public decision makers for discussions on the major on-going regulatory projects in the financial area and the role of the financial sector in fostering growth as well as informal networking.
- These events are regularly organised in association with the EU Presidencies in parallel with informal ECOFIN councils and in some cases with the G20 Presidencies. They are organised with the support of Virginie Denis and her team.
- Additional workshops involving the members of Eurofi are set up to exchange views on regulatory issues. Bilateral meetings are also regularly organised with representatives of the public authorities and other stakeholders (e.g. end-users, experts) to finetune assessments and proposals.
Research and documentation:
- Assessments and proposals taking into account economic, risk and end-user impacts are prepared with the support of cross-sectoral working groups comprising members of Eurofi.
- Topics addressed include prospective and on-going regulatory proposals at the EU and global levels, industry trends as well as the impacts for the financial sector of the economic challenges the EU is facing.
Main topics currently addressed
- Measures and instruments needed to ensure an appropriate financing of the EU economy: assessment of the economic challenges to be addressed in the EU and of the impact of on-going monetary actions, measures to support bank financing (securitisation) and further diversify the financing of SMEs and infrastructure projects, proposals for developing a long term investment perspective, measures to stimulate EU bond and equity markets…
- Prospects of further EU integration: implementation of the Banking Union, priorities for implementing a Capital Markets Union, possible evolution towards a fiscal union and further economic integration in the Eurozone, evolution of the EU regulatory and supervisory authorities (ESRB, ESAs).
- Optimizing the EU financial services internal market: conditions for enabling a sustainable SEPA business case, review of the IORP directive, regulation of CRAs, prospects of further banking integration…
- Evolutions of the prudential and regulatory framework of banks and insurance companies: fine-tuning and implementation of banking and insurance prudential frameworks (liquidity provisions, RWA evaluations, Solvency II), recovery and resolution of banks and non-banks, digital financial services…
- Capital markets and investment products regulations: Capital Markets Union, regulation of securities, derivatives and commodities markets and infrastructures, recovery and resolution of CCPs, cybersecurity, SFT and collateral requirements, asset management regulations, investor protection regulation (PRIPs, MiFID, IMD…), regulation of shadow banking
- Financial regulation at the global level: feasibility of bank crisis management at the global level, coordination of capital markets regulations at the global level, systemicity of non-banks non-insurers…