On 17 July 2027, Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investment Union, held a press conference in Brussels, Belgium, to present the report on the banking sector competitiveness, as part of the Savings and Investment Union Strategy. 

In her speech, she explained that, although EU banks were resilient, well-capitalised and profitable, resilience alone was not enough to ensure competitiveness. She identified three issues: excessive fragmentation along national lines, which limited cross-border activity and scale; international standards that did not adequately reflecting EU specificities, which put European banks at a disadvantage; and an overly complex rulebook costing over €24 billion annually. She called for the completion of the Banking Union, greater proportionality for small banks, and a cultural shift among supervisors, banks and policymakers. She announced a comprehensive legislative package for the first quarter of 2027. 

This video shows the complete press conference, followed by a question and answer session.