In the financial services area, Europe has a dual challenge: to learn from the financial crisis by increasing resilience whilst harmonizing regulation (through a single rulebook) to create a deep, single European financial market. That market needs a critical mass to facilitate competitive access to financial services and to finance growth and overall European competitiveness.
To face this challenge, the EIFR promotes a «responsible regulation», together with a clear strategic roadmap for the financial industry (long term investment, credit vs capital markets, conditions of profitability, etc).
Prompted by the crisis, the EBA has made substantial progress in restoring solvency and confidence in European banks. This role is becoming even more important in the context of Brexit as the 27 Member States now face this challenge without the City of London. In this context, and with the ambition of the new European Commission and Parliament, the EBA is a key player in putting in place proper regulation and convergence of strong supervisory practices to ensure an effective environment for a European banking industry that is ready to support future growth.
José Manuel Campa has been the Chairman of the EBA since March 2019. After studying law and economics at the University of Oviedo and earning his PhD in economics from Harvard University, Mr. Campa taught finance at New York and Columbia Universities and the IESE Business School, and consulted for a number of international organisations including the Inter-American Development Bank, the IMF, the Bank for International Settlements and the European Commission. He also served as the Secretary of State for Economy of the Spanish government and was most recently Global Head of Regulatory Affairs of the Santander Group.