The purpose is to make regulations more transparent, risk-based and data-driven. The amendments will ease the cost of doing business and provide residents (including finance and leasing companies) better access to foreign exchange held by the banking system. Another important regulatory reform initiative is the adoption of the agricultural value chain financing framework. This framework expands the scope of lending from individual farmers.
It necessarily balances the views of European policy makers, reflecting what is realistic in the current political circumstances, while – I hope – remaining sufficiently ambitious to give citizens and investors a sense of direction of where the euro area is heading.