There is not much of new legislation in the pipeline, just an increased focus on what is already on the table. In the financial sector that means continued work on finding proportional legislation and the continual work on creating a capital market union. The completion of the banking union and finding an agreement on the proposal for a common European Deposit Insurance scheme remains a high priority for the Commission.

The EU Commission will also in the light of the latest consideration on the Basel rules propose amendments to the capital requirement rules to make banks more resilient while simplifying the rules.

The programme marks the extension of the work the Commission started last year on the Call for Evidence on EU legislation in the financial sector. NFU attended the Commission’s official hearing on the topic and highlighted the effects the legislation have on employees in the Nordic region.  The proportionality question remains a key priority for NFU in our advocacy work.

Read the whole communication from the European Commission here.