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#CapitalMarketsUnion and #BankingUnion - Commission Review stresses the importance of further integration 

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The European Commission has published the 2020 edition of the Annual European Financial Stability and Integration Review (EFSIR). This review examines recent economic and financial developments and their impact on financial stability and integration in the EU.

In addition to financial sector developments, this year's review combines different perspectives on the various structural changes that are taking place in Europe's financial system. The focus this year is on the banking sector and, in particular, on three main challenges it faces: increased investments in certain assets (such as in research and development, computer software and databases), the emergence of cryptocurrencies, and progress in relation to cross-border banking. Overall, while financial stability risks have slightly increased over the past year, price integration has decreased in equity markets and stalled in bank markets.

This is a strong signal illustrating the importance of continuing efforts to advance the Capital Markets Union and Banking Union. The European Financial Stability and Integration Review (EFSIR) is available here. In the same context, the European Central Bank also published a report entitled Financial Integration and Structures in the Euro Area.

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