It is important that euro area and non-euro area member states can participate in the banking union on equal terms. Otherwise, there is a risk that the single market for financial services becomes fragmented. In addition, Danmarks Nationalbank finds it essential that the banking union includes an insurance element in relation to the systemic institutions in Denmark.
SPEECH  Closing gaps to bend the trend: embedding the flow of finance in the transition Speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, State of the Union conference organised by the European University Institute Florence, 5 May 2023 Many thanks for inviting me to address this conference along with so many esteemed speakers.