The European Financial Services Round Table (EFR) was formed in 2001. The Members of EFR are Chairmen and Chief Executive Officers of international banks or insurers with headquarters in Europe.
EFR Members believe that a fully integrated EU financial market, a Single Market with consistent rules and requirements, combined with a strong, stable and competitive European financial services industry will lead to increased choice and better value for all users of financial services across the Member States of the European Union. An open and integrated market reflecting the diversity of banking and insurance business models will support investment and growth, expanding the overall soundness and competitiveness of the European economy.
Increased fragmentation as a result of the post–crisis regulatory response underlines the need to safeguard the Single Market and to protect the level–playing field. The EFR therefore strongly encourages national governments and the EU institutions to continue their efforts to create a truly single market for wholesale and retail financial services, which will play an essential role in providing long–term financing for the economy in Europe. Furthermore strong market discipline is essential to ensure fairness and alignment of interests of the financial sector and the real economy towards serving the citizens of Europe and the world.
The integration of financial markets does not stop at the EU's borders – markets are increasingly global. EFR Members therefore encourage both national and European leaders to establish internationally consistent and coherent financial regulation and supervision and to support and promote free and open markets throughout the world.
EFR Members' companies combined represent
- Around 944 million customers*
- More than 2 million employees
- €33.48 trillion total assets
- €10.26 trillion assets under management