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5th EBA Policy Research Workshop Summary

Event Overview

The 5th EBA Policy Research Workshop titled "Competition in Banking: Implications for Financial Regulation and Supervision" was held in London, UK, on 28-29 November 2016. The event aimed to explore the evolving role of competition in the banking sector, particularly in light of the challenges posed by new non-banking players such as shadow banking entities and FinTechs.

Core Content

The workshop was organized by the European Banking Authority (EBA) to bring together economists, researchers, and academics from supervisory authorities and central banks. The focus was on how the banking sector has changed since the financial crisis and the implications of this evolution for financial regulation and supervision.

Key topics for discussion included:

• The post-crisis recovery of the EU banking sector
• The impact of global regulatory reforms on banking stability and capital levels
• The current state of competition in the banking industry
• The role of new non-banking players in shaping the competitive landscape
• Bank consolidation as a potential response to declining profitability
• The effect of disintermediation on banks and their role in capital market financing

The EBA emphasized that while the banking sector has become stronger due to stricter regulations and higher capital requirements, profitability remains low, and structural challenges persist in adapting to a low-interest-rate environment and weak economic conditions.

Main Views and Key Information

• Post-Crisis Progress: The EU banking sector has made significant progress in strengthening its financial position through regulatory reforms and increased capital buffers.
• Challenges in Profitability: Banks continue to struggle with profitability due to structural issues, including outdated business models and limited diversification into non-interest income sources.
• Technological Innovation: The underutilization of information and communication technology (ICT) is seen as a barrier to improving efficiency and competitiveness.
• New Market Players: The emergence of shadow banking entities and FinTechs has intensified competition, especially in the retail payments market and lending business.
• Regulatory Concerns: These new players, despite not being traditional banks, engage in quasi-banking activities, raising questions about whether they should be subject to regulatory oversight.
• Call for Research: The EBA is seeking policy-oriented, empirical research to better understand the dynamics of competition in banking and its regulatory implications. Papers on the following topics were especially encouraged:
  • Banking structures after the crisis
  • Level of competition in banking
  • Consolidation in the banking sector
  • Shadow banking and competition
  • Bank disintermediation and capital market financing
  • The role of FinTechs and other non-banking players

Submission Details

• Deadline for Paper Submissions: August 1, 2016
• Notification of Acceptance: Early September 2016
• Contact Email: research.conferences@eba.europa.eu
• Organizers: European Banking Authority (EBA)
• Programme Committee Members:
  • Kim Abildgren, Danish Central Bank
  • Matteo Aquilina, FCA
  • Michael Boehl, EBA
  • Olivier De Bandt, ACPR
  • Samuel Da Rocha Lopes, EBA
  • Klaus Duellmann, ECB
  • Lars Overby, EBA
  • Mario Quagliariello, EBA
  • Massimiliano Rimarchi, EBA
  • Jesús Saurina, Banco de España
  • Martin Summer, OenB
  • Iman Van Lelyveld, DNB
  • Walter Vecchiato, EBA

Conclusion

The 5th EBA Policy Research Workshop highlighted the complex interplay between competition and regulation in the modern banking sector. It underscored the need for innovative approaches to address structural challenges and the importance of understanding the role of non-banking entities in shaping the future of financial services. The event aimed to foster collaboration and knowledge exchange among experts to develop effective regulatory frameworks that support a healthy and competitive banking environment.