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The work of savings banks in microcredit in Europe (10 May 2011) Joint conference of the European Savings Banks Group (ESBG) and the European Microfinance Network (EMN) held in Brussels, Belgium
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The work of savings banks in microcredit in Europe (10 May 2011) Joint conference of the European Savings Banks Group (ESBG) and the European Microfinance Network (EMN) held in Brussels, Belgium
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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. | ESBG iraggiN MICROFINANCE network The work of savings banks in microcredit in Europe 10 May 2011 Joint conference of the European Savings Banks Group ESBG and the European Microfinance Network EMN held in Brussels Belgium On Tuesday 10 May the European Savings Banks Group ESBG and the European Microfinance Network EMN hosted a joint conference in Brussels entitled The work of savings banks in Microcredit in Europe . Approximately 40 policymakers ESBG and EMN members attended the event. The session was introduced by Mr Daniel Sorrosal Executive Director of EMN and by Mr Raymond Maes from the European Commission Directorate-General for Employment Social Affairs and Inclusion. Mr Sorrosal stated during his welcome speech that both ESBG and EMN share a common interest in the development of microcredit in Europe as well as common members that are very active in this field. Savings banks are very important actors in the microcredit field in Europe nonetheless their activities are often less known by both policymakers and the public at large. The 10 May event intends to give visibility to the activities of savings banks in microcredit in Europe. EMN and ESBG want to contribute to the development of microcredit in Europe by coordinating their work as European networks showcasing the work of their members facilitating the exchange of best practices allowing debate to take place directly between policymakers and practitioners as an important contribution to this development. The growing importance of microfinance in Europe over the past decade was highlighted as well as the growing interest of the European institutions in microfinance which has become an integral part of current key European policies and has led to the launch of specific instruments for its development. In addition microcredit plays a very important role in the Europe 2020 strategy as a tool to promote growth employment and social inclusion. In Europe several approaches co-exist today in the provision of .
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