SRB Chair Speech on Banking Union Competitiveness and Simplification

Speeches |

Thursday, 19 March 2026

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Honourable Members, ladies and gentlemen,

Over the past decade, Europe has achieved remarkable progress in building the Banking Union.

The establishment of the single rulebook, together with the Single Supervisory Mechanism and the Single Resolution Mechanism, has significantly reduced regulatory fragmentation across Europe. Banks now operate under a common supervisory framework and within a shared system for managing crises.

This represented a major step forward for European financial integration. Resolution plans are now in place for all major banks in the Banking Union. The Single Resolution Fund has reached is now worth around 81 billion euros. Banks have built substantial loss-absorbing capacity, and the European resolution framework has been successfully applied in several Member States.

Just as importantly, this system works through close cooperation between European and national authorities. At the Single Resolution Board, we work side by side with national resolution authorities every day. Decisions are taken jointly - both in resolution planning and, when necessary, in a crisis — in the interest of the Banking Union as a whole.

Thanks to these achievements, many of the barriers and constraints that fragment the European banking landscape should now become a thing of the past.

Against this backdrop, the Commission’s consultation on competitiveness in the banking sector comes at a very good time.

I would like to draw your attention on two dimensions of this consultation, simplification and completion of the BU.

1. Simplification

This consultation provides an important opportunity to take stock of what has been achieved, to identify where the framework can be improved, and to consider how to streamline – simplify – regulation so that it can better support Europe’s growth and competitiveness while preserving financial stability.

This effort also builds on important work already underway across the European institutional framework.

The Single Supervisory Mechanism is delivering significant progress in simplification, while maintaining strong prudential standards.

At the Single Resolution Board, we are also actively contributing to simplification within our mandate and in line with existing rules.

Our approach is straightforward. We aim to reduce unnecessary administrative burden while keeping the focus on what truly matters for resolvability.

For example, we are streamlining reporting requirements and making data requests more transparent and predictable for banks. We are also moving towards more proportionate resolution planning cycles. Where banks have already reached a stable level of resolvability, the intensity and frequency of certain planning activities can be reduced. This allows both banks and authorities to focus their resources where risks are high.

Simplification, therefore, is not about weakening the framework. It is about making it clearer, more proportionate, more efficient and easier to implement.

2. Completion of the Banking Union

At the same time, the Commission’s consultation also offers an opportunity to reflect on the next steps for the Banking Union.

Without any surprise, I again recall that one key missing element is a European deposit insurance framework. While supervision and resolution have been integrated at the European level, deposit protection remains organised largely at national level. Moving towards a more integrated approach would strengthen depositor confidence and support deeper financial integration.

Another important aspect concerns liquidity in resolution. Resolving large banks can require significant liquidity resources. Ensuring that credible liquidity support is available when needed would further strengthen confidence in the crisis-management framework.

These elements also matter for competitiveness. When confidence remains fragmented along national lines, capital and liquidity tend to remain fragmented as well. This limits cross-border banking integration and reduces the efficiency with which banks can support the European economy.

3. Conclusions

I am drawing to a close.

The Commission’s consultation offers a valuable opportunity to build on the achievements of the Banking Union, to simplify where possible, and to further strengthen the framework.

Institutions across Europe - including the Commission, the SSM and the SRB - are already actively working in this direction.

I also note with pleasure that this Committee will hold two important votes this afternoon: on the annual report on the Banking Union and on CMDI. I understand that the draft report renews the Committee’s commitment to completing the Banking Union—an important message for all of us.

I am going to seize this occasion to thank the rapporteur of this important report, Ms Evelyn REGNER.

And finally, let me stress once again how important was your work on CMDI. Despite its limits, this package genuinely strengthens our toolkit.

To conclude, continuing the process of integration will help reduce fragmentation, strengthen confidence and support a more competitive European banking sector.

Thank you.

Contact our communications team

Senior Media and Communications Expert Seán De Búrca Email Sean.de-Burca [a] srb.europa.eu Phone: +32 2 490 3710 Mobile: +32 477 02 87 10

Senior Communications Expert Camille De Rede Email Camille.de-Rede [a] srb.europa.eu Phone: +32 2 490 3530 Mobile: +32 477 028 530

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