The German Banking Industry Committee (GBIC) welcomes the initiatives of the European Central Bank (ECB) to simplify regulation under the leadership of Vice-President Luis de Guindos and of the Single Supervisory Mechanism (SSM) to reform European banking supervision.

In the context of the ongoing review of the EU Taxonomy’s climate and environmental delegated acts, the GBIC calls for significant simplifications to ensure the framework can be applied effectively in practice complexity.

The Bankenverband believes this legislative package is an important stimulus to strengthen Europe’s capital markets and to move forward with the Savings and Investment Union (SIU).