“We have very much appreciated Lord Hill’s initiatives aimed at assessing the 'fit to purpose’ rules, in particular the call for evidence, the works on proportionality and on simplifying rules that are overlapping and conflicting", declared Gerhard Hofmann, President of European Association of Co-operative Banks (EACB) and Board Member of the National Association of German Cooperative Banks (BVR).
„We look forward to continuing the co-operation with Vice President Valdis Dombrovskis on this path. EU growth and the specificities of the EU banking sector should be the focus. In particular we stress the importance that the Commission continues defending the European views in the negotiations of the Basel Committee, considering the impact that the Basel III review has on the overall regulatory burden, level playing field issues and the financing of the real economy”, Hofmann concluded.