Crédit Agricole Group

Credit Agricole Group firmly supports the objective of simplifying and harmonising the sustainable finance regulatory framework. As underscored in the Draghi and Letta reports one year ago, this is a key condition for preserving and strengthening Europes competitiveness. In this context, we are therefore surprised by the Commissions proposal which falls significantly short of expectations.

Key proposals 1. Exempt EU companies operating in EU from MS assessment. For MS, EU undertakings are already subject to extensive social, labour and human rights legislation, actively enforced by competent authorities; compliance can therefore be reasonably presumed, absent evidence to the contrary. 2.

Key proposals 1. Exempt EU companies operating in EU from MS assessment. For MS, EU undertakings are already subject to extensive social, labour and human rights legislation, actively enforced by competent authorities; compliance can therefore be reasonably presumed, absent evidence to the contrary. 2.

We welcome the revised and clarified European Sustainability Reporting Standards (ESRS) as they reduce the total number of datapoints, clarify the double materiality assessment, while also providing robust and harmonized sustainability data.

Credit Agricole Group firmly supports the objective of simplifying and harmonising the sustainable finance regulatory framework. As underscored in the Draghi and Letta reports one year ago, this is a key condition for preserving and strengthening Europes competitiveness. In this context, we are therefore surprised by the Commissions proposal which falls significantly short of expectations.

Credit Agricole Group welcomes the review of the Sustainable finance disclosure regulation (SFDR) and supports the Commission efforts to simplify the framework. The objective of SFDR, whether in its version 1 or version 2, is to promote the channeling of investments and household savings towards sustainable projects, so that such projects can be realized.

Crédit Agricole very much welcomes the Commissions intension to review SFDR. While we share the objectives of the regulation, we also think that major changes should be introduced to make it relevant for final investors and workable for stakeholders in charge of implementing it. 1.

Crédit Agricole Group welcomes the opportunity to contribute to the Commissions call for feedback on its Communication on competitiveness in the Single Banking Market. The EU banking sector has significantly strengthened its resilience.

Credit Agricole Group (GCA) welcomes the intention of the European Commission (EC) to help retail investors to better engage in financial markets. However, it believes that many proposals of the Retail Investment Strategy (RIS) would be counter-productive in this matter, as it appears to be at odds with the interests of a vast majority of investors with modest financial portfolios.

Crédit Agricole Group strongly welcomes the review of the Liquidity Coverage Ratio (LCR) Delegated Regulation and the European Commissions (EC) intention to find a better balance between stability and market development. Securitisation enhances credit circulation and reduces risk concentration by distributing it across diverse market participants.

We welcome and fully support the European Commissions proposal to maintain the RSF factors applicable to short-term secured and unsecured lending transactions with financial counterparties to their current level of 0%, 5% and 10% permanently, absent which they will revert to the higher 10% and 15% factors set out in the Basel standards by June 2025.

On April 18th, the European Commission presented four new legislative proposals with an aim to reinforce the European Unions crisis management and deposit insurance (CMDI) framework. Over the last decade, significant improvements have been achieved as banks have built up Minimum Requirements for Own funds and Eligible Liabilities (MREL) and Total Loss Absorption Capacity (TLAC) buffers.