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Access to finance / financial affairs

Access to finance on reasonable terms is a pre-condition for companies making the investment necessary to drive growth and maintain competitiveness. Finance needs to be available through multiple channels in order to both provide stability and meet the different financing needs of companies of all sizes, notably SMEs. The lack of access to finance poses limits to businesses operating at their full potential, reduces investment and diminishes growth prospects.

A failure to properly balance stability and growth considerations regarding financial regulation risks becoming an increasing constraint as businesses demand for finance picks up with the economy.

Improvements in the supply of finance are expected in the upcoming months due to improved capital and liquidity position of European banks. But we remain concerned that overly burdensome financial regulation is likely to be an obstacle to the supply of finance. On the demand side, our survey indicates that we are seeing an increase in business intentions to invest both in industry and in services. But as the recovery gradually starts to take hold we will need to ensure we have begun to address the issues of access to finance as companies start to want to take their investment projects forward. We therefore believe the European Commission’s consultation to build a Capital Markets Union is extremely timely.

Overall, we believe there are five key areas under which EU policy-makers need to take action to create a Capital Markets Union:

  • Improve information flows regarding growth prospects for small and medium-sized companies;
  • Ensure that financial regulation finds the right balance between improving financial stability and supporting investment;
  • Develop alternatives to bank finance;
  • Restore confidence in securitisation;
  • Promote tax systems which support equity-financed investment.

In addition, as part of its broader investment plan, the EU needs to unlock alternatives to bank finance and improve the business environment.

Publications

Public letters Date
Cross-border payments - Letter from Markus J. Beyrer to MEP Roberto Gualtieri 10/07/2018
European Commission Technical Expert Group on Sustainable Finance - Letter from Markus J. Beyrer to Olivier Guersent 26/06/2018
The European Market Infrastructure Regulation (EMIR) - Letter from Markus J. Beyrer to MEP Werner Langen 10/04/2018
Packaged retail and insurance-based investment products (PRIIPs) - Letter from Markus J. Beyrer to the European Insurance and Occupational Pensions Authority 22/03/2018
Non-performing loans — Addendum to the ECB Guidance - Letter from BusinessEurope Director General Markus J. Beyrer to Danièle Nouy Chair of the ECB Supervisory Board of the Single Supervisory Mechanism 28/11/2017
Capital requirements - Letter from Markus J. Beyrer to European Commission Vice-President Valdis Dombrovskis 02/10/2017
Capital Markets Union: mid-term review - Letter from Markus J. Beyrer, Director General BusinessEurope to Valdis Dombrovskis, Vice-President of the European Commission 14/03/2017
The European Market Infrastructure Regulation (EMIR) - Letter from Markus J. Beyrer, Director General BusinessEurope to Valdis Dombrovskis, Vice-President of the European Commission 25/01/2017
Basel III Capital Framework - Letter from BusinessEurope President Emma Marcegaglia to Mario Draghi, President of the European Central Bank 30/11/2016
International prudential rules for banks: Basel Committee - Letter from Markus J. Beyrer, Director General BusinessEurope to Valdis Dombrovskis, Vice-President of the European Commission 29/07/2016
Capital requirement rules: SME supporting factor - Letter from Markus J. Beyrer to Commissioner Lord Jonathan Hill 13/06/2016
Securitisation - Letter from Markus J. Beyrer to MEP Paul Tang ahead of the 13 June meeting of the European Parliament Committee on Economic and Monetary Affairs 07/06/2016
Basel III proposal for revised standardised approach for credit risk - Subordinated debt, equity and other capital instruments - Letter from Markus J. Beyrer to Lord Jonathan Hill 07/03/2016
Financial regulation: call for evidence - Letter from Markus J. Beyrer to Lord Jonathan Hill 09/02/2016
EMIR Risk mitigation margining requirements for non-centrally cleared OTC derivatives: variation margin phase in for NFC+ - Letter from Markus J. Beyrer to Commissioner Lord Hill 28/01/2016
Capital requirement rules (CRR and CRD IV) - Letter from Markus J. Beyrer to Commissioner Lord Jonathan Hill 25/11/2015
Use of derivatives for risk mitigation: proposed changes to EMIR - Letter from Markus J. Beyrer to Commissioner Lord Jonathan Hill 30/09/2015
Capital Markets Union - Letter from Markus J. Beyrer to European Commission Lord Hill 13/05/2015
Implementation of the Markets in Financial Instruments Directive II / Regulation (MiFID II) - Letter from Markus J. Beyrer to Commissioner Jonathan Hill 21/04/2015
Regulation on money market funds - Letter from Markus J. Beyrer to European Commissioner Jonathan Hill 13/04/2015
Own funds/capital requirement rules (CRD IV/CRR) and securitisation - Letter from Markus J. Beyrer to Commissioner Michel Barnier 19/03/2014
Crowdfunding - Letter from Markus J. Beyrer to Commissioner Michel Barnier 24/02/2014
Towards a European banking union - Letter from Markus J. Beyrer to MEP Sharon Bowles 24/02/2014
Forthcoming proposals to reform the structure of the EU banking sector - Letter from Markus J. Beyrer to Commissioner Michel Barnier 27/01/2014
Position papers Date
The capital requirements directive and regulation - BusinessEurope position paper on the Commission proposal 24/04/2018
European supervisory authorities review - BusinessEurope position on the Commission proposal (omnibus regulation) 26/02/2018
Cross-border payments in the EU - a BusinessEurope position paper 16/02/2018
The European market infrastructure regulation (EMIR) - a BusinessEurope position paper 20/09/2017
The Operations of the European Supervisory Authorities 16/05/2017
Capital Markets Union: securitisation 30/03/2017
Capital Markets Union - Securitisation 03/08/2016
Capital Markets Union - BusinessEurope reply to the European Commission consultation 13/05/2015
Reforming the structure of the EU banking sector - BusinessEurope position paper on the Commission proposal for a regulation on structural measures improving the resilience of EU credit institutions 05/12/2014
Markets in financial instruments directive (MiFID II), Markets in financial instruments regulation (MiFIR) - a BusinessEurope position paper 21/10/2014
Press releases Date
Capital Markets Union: proposals will contribute to investment-led growth 30/09/2015
Capital Markets Union consultation: Translate initiatives into concrete steps to boost investment 18/02/2015
BusinessEurope welcomes deal on single resolution mechanism 20/03/2014

Contact

Erik Berggren

Senior Adviser
Tel:
+32 2 237 65 55
Last updated: 20 September 2018