Moreover, we believe that the measures taken should be flexible enough to be compatible with all types of banking models, including universal banking and the savings and retail banks’ business model. The ESBG welcomes the recognition of the universal banking model. However, the ESBG also states that every financial system has its own particular characteristics; there are diverse banking structural models and practices within the EU which need to be fully respected. Applying the same banking model - the ‘one size fits all’ approach - across the EU could result in a lack of flexibility and.
