14 June 2019 – The Executive Committee of the European Association of Co-operative Banks (EACB) has met today for its 37th meeting. About 30 co-operative banks leaders have gathered in Berlin at the National Association of German Cooperative Banks (BVR) premises. Work has focussed on the banking regulatory framework at EU and international level, affecting co-operative banks such as retail and payment systems activities and the EU sustainable finance initiatives.
The Executive Committee was pleased to welcome as guest speaker Sabine Lautenschläger, Member of the European Central Bank (ECB) Executive Board, to discuss with EACB members the geopolitical importance of an efficient, sound and secure payments infrastructure in Europe. Co-operative banks subscribe to the importance of such payment systems infrastructure and several EACB members are already involved in market initiatives aiming at the development of such infrastructure. Nevertheless important investments are required which co-operative banks will have to take into account. The EACB appreciates the high quality of the exchange with the ECB and is looking forward continuing to actively contribute to the dialogue between the supervisor and the banking industry.
Gerhard Hofmann, EACB President, commented: “European Co-operative Banks are committed to provide efficient and reliable payment service infrastructure in the EU, as evidenced by their adoption in large numbers of the new instant payment scheme. However, regulators and authorities must ensure a level playing field with the Big Techs, which should be subject to the same standards and competition rules.”
Ms. Lautenschläger's speech is available on the ECB website.