10 December 2024
Polish Financial Institutions Publish Position Paper on Acceleration of European Capital Markets Development
Ten key financial institutions in Poland have presented a joint vision of the future of the European capital markets. The position paper includes eight key recommendations for advancing the Capital Markets Union and building the Savings and Investments Union. The priorities include a balanced approach to market integration, attracting individual investors, developing pension funds and plans and PE/VC/PD, simplifying regulations for SMEs, enhancing financial education, fostering market liquidity, optimizing post-trade processes, and rebuilding investment banking. The Polish presidency of the EU Council in 2025 will be an opportunity to promote these priorities among Member States to increase their impact on the development of the common capital market.
Polish institutions of the capital, insurance and banking markets and market infrastructure have jointly developed the position paper named "Advancing Capital Markets Union and Building Savings and Investments Union: Pan-European Integration and EU Regional Capital Markets Growth". The document, which was prepared as a result of advanced consultations, advocates for balanced pan-European integration while maintaining the competitive dynamics of regional markets, which are the foundation for financing small and medium-sized enterprises, a key sector for innovation in the EU economy.
Considering the intensification of debate on the shape of the European market in recent months, the position paper presents eight proposals for strengthening European capital markets. The aim of the recommendations is to advance the Capital Markets Union and build the Savings and Investments Union.
The authors of the position paper emphasize that the European Union needs efficient access to capital to stimulate innovative enterprises, drive energy and digital transitions, and accelerate infrastructure investments. Small and medium-sized enterprises, which constitute a significant source of national income and employment in the EU, are key beneficiaries of financing raised on regional capital markets.
To fully unleash the potential of this sector, it is necessary to simplify regulations and reduce reporting requirements, which may currently constitute an important barrier for SMEs. For the development of European capital markets, it is crucial to continue to attract individual investors, who are an essential part of capital markets development. The recommendations also include proposals for the development of pension funds and plans as well as long-term investment products that allow households to build capital for the future. Particular attention is paid in the position paper to the private equity, venture capital and private debt markets, which play a key role in financing early-stage enterprises and innovative projects. The paper also draws attention to the need to foster the liquidity of markets, optimize post-transaction processes on the capital market that meet the needs of regional and local markets, and rebuild European investment banking. The intensification of financial education and the support for equity culture, which will increase awareness of the benefits of investing on the capital market, are also proposed as an essential element.
The paper presents the perspective of the Polish market in the debate on the shape of the European capital market and emphasizes the importance of the activities of Polish organizations that will be promoted during the Polish presidency of the EU Council. The key message will be the drive towards interoperable regional financial hubs that will reflect the specificity tailored to the needs of regional innovative SMEs. The Polish proposal thus emphasizes the balance between broad integration and maintaining the competitiveness of regional capital markets.
The position paper, prepared by key institutions of the Polish capital, insurance and banking markets and market infrastructure, is an important contribution to the debate on the future of the European financial market. Implementation of the recommendations can significantly accelerate the development of European capital markets, stimulate innovation in the EU economy, and create a sustainable and integrated financial system.
Signatories of the Position Paper:
Advancing Capital Markets Union and Building Savings and Investments Union: Pan-European Integration and EU Regional Capital Markets Growth
Polish institutions of the capital, insurance and banking markets and market infrastructure have jointly developed the position paper named "Advancing Capital Markets Union and Building Savings and Investments Union: Pan-European Integration and EU Regional Capital Markets Growth". The document, which was prepared as a result of advanced consultations, advocates for balanced pan-European integration while maintaining the competitive dynamics of regional markets, which are the foundation for financing small and medium-sized enterprises, a key sector for innovation in the EU economy.
Considering the intensification of debate on the shape of the European market in recent months, the position paper presents eight proposals for strengthening European capital markets. The aim of the recommendations is to advance the Capital Markets Union and build the Savings and Investments Union.
The authors of the position paper emphasize that the European Union needs efficient access to capital to stimulate innovative enterprises, drive energy and digital transitions, and accelerate infrastructure investments. Small and medium-sized enterprises, which constitute a significant source of national income and employment in the EU, are key beneficiaries of financing raised on regional capital markets.
To fully unleash the potential of this sector, it is necessary to simplify regulations and reduce reporting requirements, which may currently constitute an important barrier for SMEs. For the development of European capital markets, it is crucial to continue to attract individual investors, who are an essential part of capital markets development. The recommendations also include proposals for the development of pension funds and plans as well as long-term investment products that allow households to build capital for the future. Particular attention is paid in the position paper to the private equity, venture capital and private debt markets, which play a key role in financing early-stage enterprises and innovative projects. The paper also draws attention to the need to foster the liquidity of markets, optimize post-transaction processes on the capital market that meet the needs of regional and local markets, and rebuild European investment banking. The intensification of financial education and the support for equity culture, which will increase awareness of the benefits of investing on the capital market, are also proposed as an essential element.
The paper presents the perspective of the Polish market in the debate on the shape of the European capital market and emphasizes the importance of the activities of Polish organizations that will be promoted during the Polish presidency of the EU Council. The key message will be the drive towards interoperable regional financial hubs that will reflect the specificity tailored to the needs of regional innovative SMEs. The Polish proposal thus emphasizes the balance between broad integration and maintaining the competitiveness of regional capital markets.
The position paper, prepared by key institutions of the Polish capital, insurance and banking markets and market infrastructure, is an important contribution to the debate on the future of the European financial market. Implementation of the recommendations can significantly accelerate the development of European capital markets, stimulate innovation in the EU economy, and create a sustainable and integrated financial system.
Signatories of the Position Paper:
- Association of Individual Investors (SII)
- Association of Stock Exchange Issuers (SEG)
- Central Securities Depository of Poland (KDPW)
- Chamber of Brokerage Houses (IDM)
- Chamber of Commerce of Pension Societies (IGTE)
- Chamber of Fund and Asset Management (IZFiA)
- Polish Bank Association (ZBP)
- Polish Chamber of Insurance (PIU)
- Polish Private Equity and Venture Capital Association (PSIK)
- Warsaw Stock Exchange S.A. (GPW)
Advancing Capital Markets Union and Building Savings and Investments Union: Pan-European Integration and EU Regional Capital Markets Growth
