Margarita Delgado: The Banking Union - a key building block of the EU project

Opening remarks by Ms Margarita Delgado, Deputy Governor of the Bank of Spain, at the roundtable "Banking Union - Five years in the making", organized by the Bank of Spain, Madrid, 23 October 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dear chairs of the Single Supervisory Mechanism and the European Banking Authority, president of the European Banking Federation, ladies and gentlemen, good morning.

Let me start by welcoming you to Banco de España for this roundtable. Over the next couple of hours we intend to discuss both the achievements and pending elements of the Banking Union (BU) on its fifth anniversary. We are honoured to be accompanied by such distinguished panelists, so thank you for accepting our invitation and for being here today.

But before getting down to the discussion, I would like to share with you a few general thoughts on the European Union project and the role the Banking Union (BU) plays as part of this collective endeavour.