AFME welcomes the progress achieved towards the finalisation of the Risk Reduction Measures (RRM) package with the adoption of a position by the Council of the EU and by the European Parliament respectively in May and June 2018. In this paper, AFME provides views on the ongoing negotiations and makes recommendations aimed at achieving financial stability, supporting the EU growth agenda and CMU, and removing fragmentation within Banking Union.

The RRM package will further strengthen the resilience of the financial system, building on the very important regulatory reforms and industry efforts introduced in the wake of the financial crisis. It is also an important opportunity to provide stronger foundations to the EU’s objectives of boosting growth and investment, channel capital to the real economy, reduce fragmentation and barriers in the internal market and contribute to the completion of the Banking Union.