Convegno di studio"La banca nel nuovo ordinamento

europeo: luci ed ombre"

Massimo MarchesiDG FISMA

European Commission

Courmayeur22nd September 2017

1

Europe's steady recovery is continuing

2

3

Success Factor : Monetary Policy

Success Factor : Banking regulation

4

0

2

4

6

8

10

12

14

16

18

20

2007 2008 2009 2010 2011 2012 2013 2014 2015

US

, 2

01

5

EU Tier 1 ratio [%]Eu, dmestic banking groups and stand-alone banks

Liquidity Coverage RatioCoverage Ratio

Success Factor: Investments

5

6

What still needs to be done?

EFSI, CMUESAs

CRD/CRRTLAC/MREL

EDIS------

NPL reductionSRF Fiscal backstop

ESBies

7

TargetingGrowth and Financial Stability:

the Capital Markets Union

8

CMU objectives and actions

9

STS Securitisation

Retail Action Plan

Personal Pensions

Prospectuses

Investment Funds

Venture Capital

Solvency II

Risk Reduction

10

Risk Sharing(i.e. completing the Banking Union)

11

12

13

NPL ratio by Member State

14

Source: ECB - CBD2 - Consolidated Banking data

00

05

10

15

20

25

30

35

40

45

GR CY PT HR IT BG IE HU SI CZ RO EE SK PL LV LT EA ES EU AT DK FR MT BE NL LU DE UK FI SE2017Q1 EA Countries 2017Q1 Other EU Countries 2017Q1 EA average 2017Q1 EU average 2015Q1

%Gross non-performing debt instruments [% of total gross debt instruments]

Domestic banking groups and stand-alone banks

NFC NPLs and investment

0

10

20

30

40

5

10

15

20

25

2008 2009 2010 2011 2012 2013 2014 2015

HR

Investment/GDP (lhs) NPL ratio (rhs)

0

5

10

15

20

10

15

20

25

30

2008 2009 2010 2011 2012 2013 2014 2015

IT

Investment/GDP (lhs) NPL ratio (rhs)

• NPL build-up

• NPL work-out

0

5

10

15

20

25

0

10

20

30

40

2008 2009 2010 2011 2012 2013 2014 2015

PT

Investment/GDP (lhs) NPL ratio (rhs)

0

5

10

15

20

25

10

15

20

25

30

35

2008 2009 2010 2011 2012 2013 2014 2015

IE

Investment/GDP (lhs) NPL ratio (rhs)

15

NPLs

16

• End 2017: clarification on Supervisory powers (provisioning, own funds deductions, etc.)

• End 2017 : AMC Blueprint

• End 2017 : NPL infrastructures (standardised data and trading platforms)

• Mid 2018 : Approach to foster secondary markets

• End 2018 : ESRB will develop macroprudential approaches

• From 2017 : Focus on insolvency issues in the EU Semester

• From 2017 : updates to Council every 6 months

17

SRF Fiscal Backstop(in a wider context)

18

19

ESBies Framework