Targeted consultation on the competitiveness of the EU banking sector

This consultation is open to a broad range of stakeholders with an interest in the functioning and competitiveness of the EU banking sector and the single market in banking. This includes, in particular, banks of different sizes and business models, investment firms, fintech and other financial service providers, investors, market intermediaries, as well as industry associations and representative bodies. The consultation is also relevant for competent authorities and supervisors at EU and national level, central banks, resolution authorities, academic and research institutions, think tanks, and civil society organisations.

In line with the objective of gathering a wide range of perspectives, contributions from consumers, whether corporate or retail users of banking and financial services, are also welcome, given their role as ultimate beneficiaries of a well-functioning, competitive and integrated banking market.

Some questions are general in nature, while others are more focused and may be of particular relevance to specific stakeholder groups. Respondents should therefore not feel obliged to answer every question. The consultation will be published and made available for 8 weeks.

The report by Enrico Letta and the report by Mario Draghi point to the need to further strengthen the competitiveness of the EU banking sector, noting that fragmentation, limited scale and insufficient cross-border integration currently constrain banks’ full potential to finance investment, innovation and growth. The competitiveness compass builds on this analysis by setting out a roadmap to restore Europe’s dynamism and unlock its full growth potential by addressing existing barriers and leveraging the strengths of the single market.

In line with this, the Commission’s savings and investment union (SIU) Communication recognises that a stronger, more integrated and more competitive banking sector is a key building block for a competitive European economy and announces that the Commission will prepare a report on the competitiveness of the banking sector in 2026.

The present consultation is therefore a central element of the preparatory process: the Commission attributes great importance to gathering robust practical and evidence-based feedback from all relevant stakeholders, as their views and experience will directly inform its analysis.

Please note that in order to ensure a fair and transparent consultation process responses should be submitted through the online questionnaires.

Contributions to the consultation