At its 17th Supervisory Conference, the Austrian Financial Market Authority argued that persistent fragmentation, rather than excessive regulation, is the central constraint on Europe’s financial system. The authority called for completion of the banking union, greater capital markets integration and fewer national barriers to support financial resilience, competitiveness and Europe’s capacity to finance investment and growth. Executive Director Mariana Kühnel said resilience now extends beyond capital and liquidity to cyber risks, technological capacity and geopolitical threats. Executive Director Helmut Ettl emphasized that stronger institutions, cooperation and enforcement are needed to build trust and financial stability. The conference also addressed the Savings and Investments Union, digitalization, artificial intelligence and Europe’s role in the global financial system. The conference is Ettl’s last as an executive director before he becomes an executive director at the International Monetary Fund on Nov. 1, 2026. Oliver Schütz, currently head of bank resolution at the authority, has been appointed to succeed him alongside Kühnel.
Austrian Financial Market Authority calls for deeper European financial integration to strengthen resilience and competitiveness
The Austrian Financial Market Authority called for completion of the banking union, deeper capital markets integration and the removal of national barriers to strengthen Europe’s resilience and competitiveness. It also urged a broader approach to resilience covering cyber, technology and geopolitical risks. Oliver Schütz will succeed Helmut Ettl when Ettl moves to the International Monetary Fund on Nov. 1, 2026.