• The World Bank (2018): “Improving Access to Finance for SMEs - Opportunities through Credit Reporting, Secured Lending and Insolvency Practices”, https://www.doingbusiness.org/content/dam/doingBusiness/media/Special-Reports/improvingaccess-to-finance-for-SMEs.pdf, Washington DC. • The World Bank (2019), “Doing business 2020”, http://www.doingbusiness.org/data/exploretopics/resolving-insolvency, Washington DC.
Despite much progress over the past decade, securities settlement in the euro area remains fragmented, inefficient and not very customer-friendly. This is not just a problem for smaller businesses, for which adapting to different conditions in the Member States often entails high costs, but also for the integration and functioning of the single market as a whole.