Future of Banking: Europe’s strategic banking challenges

Europe’s banking sector is facing renewed questions over its structure, scale and ability to compete globally. As policy-makers seek to deepen banking and capital markets integration, longstanding barriers to cross-border activity, fragmented regulatory frameworks and differences in national approaches continue to constrain consolidation, investment and the development of more competitive European financial institutions.

OMFIF’s Economic and Monetary Policy Institute, in collaboration with Rokos Capital Management, convenes a private roundtable to examine the future of banking union, steps to strengthen Europe’s financial competitiveness, and the role of banks in a world of competition with non-banks. Their enlarged market activity raises questions over banks’ basic business models as well as the overall regulatory structure of the financial system.

One question lies at the heart of the symposium: What is the role of banks if many of their activities are carried out by other entities? The discussion considers the pathways towards deeper and more interconnected capital markets and a more profitable and efficient European banking sector. It addresses issues of regulatory fragmentation, financial stability and the evolving relationship between governments, regulators and the financial sector.

Lord Norman Lamont, Chairman, OMFIF Advisory Council, former UK Chancellor of the Exchequer, will preside over the event, which is split into two thematic parts. Joachim Nagel, President, Deutsche Bundesbank, will open the discussion with a presentation on ‘European sovereignty, banking integration and Savings & Investment Union’. Vítor Constâncio, Vice President, European Central Bank (2010-2018), will lead off the second half with a talk on ‘The role of banks in a world of competition with non-banks’.

Future of Banking: a two-part roundtable series in collaboration with Rokos Capital Management

The series brings together senior banking, regulatory, policy and investment representatives to examine the future of banking in an age of technological change. The first roundtable, ‘Europe’s strategic banking challenges’, takes place in London on 1 October. The second, ‘Financial market innovation, AI and the changing shape of banking’, takes place in New York on 17 November.

These discussions are interactive, with all delegates invited to contribute, and are held under the Chatham House Rule in an off-the-record format. At the end of the series, OMFIF will produce two publications summarising the conclusions reached.