Bank of Valletta plc, as a member of the European Savings Bank Group (ESBG), recently hosted the Financial Regulation Committee (FRC) of the ESBG for a meeting in Malta. The meeting, which took place over a two-day period, covered a number of topics ranging from mortgage credit to consumer credit and to the Single European Payment Area.

Michael Borg Costanzi, BOV’s representative at these meetings explained that the FRC brings together lawyers of a large number of banks forming part of the ESBG as well as the management board members of the ESBG to discuss legislation and legislative proposals which impact on the financial services sector in the EU. “During and following these meetings, lawyers from the different countries have the opportunity to share views and opinions which are then brought together by the ESBG and presented to the competent authorities within the EU,” said Dr Borg Costanzi.

This committee holds meetings on a semi-annual basis, sometimes in Brussels and on occasion in the country of one of the members. The ESBG (European Savings Banks Group) is an international banking association that represents one of the largest European retail banking networks, comprising about one third of the retail banking market in Europe. It represents the interests of its members vis-a-vis the EU institutions and generates, facilitates and manages high quality cross-border banking projects.

ESBG members are typically savings and retail banks or associations thereof. They are often organised in decentralised networks and offer their services throughout their region. For decades, ESBG members reinvested responsibly in their region and are one distinct benchmark for corporate social responsibility activities throughout Europe and the world.

As the host of the Malta meeting of the FRC, BOV put together a full programme of events for the delegates which included a harbour cruise as well as an official dinner which was hosted by Bank of Valletta’s chief executive officer, Tonio Depasquale.