The EU financial system faces a number of challenges, including various fragility threats related to macroeconomic adjustments, geopolitics, anti-money laundering and cyber risks. These factors add up to the physical and transition risks related to climate change and competitive pressures.

Over the past five years, much progress has been achieved in regulatory reforms. At the same time, progress has stalled in other areas, most notably in completing the Banking Union. Similarly, limited advancements have been made in building a Capital Markets Union and the EU securitisation market still needs to be revamped.

While there is much to be done, the next Commission 2024-2029 will need to focus on a few pressing topics to ensure the resilience, safety, and competitiveness of the EU financial system.

Presenters and moderators:

- Maria Ana Barata, Research Associate at the Florence School of Banking and Finance, EUI and Policy Adviser, European Banking Federation;

- Thorsten Beck, Professor of Financial Stability and Director of the Florence School of Banking and Finance, EUI

Discussants:

- Wim Mijs, CEO, European Banking Federation

- Rebecca Christie, Non-resident Fellow, Bruegel

- Anne Schaedle, Head of Unit for Policy Definition and Coordination, DG FISMA, European Commission