Datenbank zum deutschen und europäischen Wirtschaftsrecht

To address the over reliance on credit ratings by financial institutions, investors, borrowers and public bodies, the lack of competition in the CRA industry, the adequacy of the 'issuerpays' model and the specificities of the sovereign debt ratings.

To foster cooperation and coordination among relevant authorities, to equip them with a consistent set of tools, and to introduce ex-ante bank resolution funds.

General objective: render the regulatory framework even more responsive to market conditions thus by enhancing financial stability, safeguarding the interest of creditors and taxpayers, enhancing level playing field globally, while ensuring international competitiveness of the EU Banking sector and further promoting the integration of the Internal Market, enhancing level playing field in the EU.

This initiative aims at (i) enlarging the scope of the prohibition of market manipulation and insider dealing to cover new markets/instruments; (ii) increasing the deterrent effect of the Market Abuse Directive through more effective and consistent enforcement by competent administrative authorities, especially concerning sanctions; and (iii) moving towards a single rulebook by clarifying certain provisions, reducing options and discretions where appropriate and reducing administrative burdens, especially on SMEs.

To enhance investor confidence, as well as to meet the overall aim of a level playing-field delivering market efficiency and transparency.

To assist in the creation of an integrated single market for mortgage credit by boosting consumer confidence and levels of consumer protection, cross- border lending and borrowing and competition in the marketplace. To promote financial stability throughout the EU by ensuring that mortgage credit markets do not operate in a way that can lead to over indebtedness, defaults and foreclosures. To be delivered together with the Communication on best practices in mortgages avoiding foreclosure and the Recommendation on financial inclusion.

To enhance full participation of all EU citizens in the internal market in general, and enhance access to online goods and services in particular. The specific objective is to ensure that every EU citizen or resident has a right to basic banking services, including minimum electronic payment facilities.