Legislators/regulators should keep in mind that market making is a substantial part of the provision of financial products, like bonds (including governmental bonds), exchange traded funds, or investment certificates. Therefore, it seems reasonable from an economic perspective that these activities remain linked to the deposit taking activities. Due to their branch networks and other distribution channels, deposit taking banks are the main distributors of such financial instruments throughout the European Union. Moreover, it is clear that fundamental risks do not arise from market making activities related to the distribution of financial instruments and that.
