Financial Markets and Institutions

The unit focuses on the regulation and supervision of financial institutions and financial stability; the size, diversity, corporate governance and innovation of the financial sector in Europe; the internal market for financial services; and the position of small/regional/international financial centres in a global world. We aim at analyzing European financial market integration and at recommending steps to be taken to overcome hurdles to more integration, which is a key in the Europe 2020 Agenda. Since August 2007, the unit has been active in exploring the causes, the consequences and the remedies of the financial crisis.



In the area of financial markets and institutions, CEPS also runs two independent research institutes:

  • European Capital Markets Institute - ECMI conducts original research informing policy on European capital markets. Through its various activities, events and task forces, ECMI acts as a focal point for interaction between market participants, policy-makers and academics. Publications include regular commentary, policy briefs, statistics and in-depth reports, supported by an excellent academic committee.
  • European Credit Research Institute - ECRI provides in-depth analysis and insight into the structure, evolution and regulation of retail financial services markets in Europe. Through its research activities, publications and conferences, ECRI keeps its members and the wider public up-to-date on topics such as retail financial services regulation, credit reporting and consumer protection at the European level. 

Priority Areas

The priority of the unit is to continue to contribute to the policy debate post-financial crisis, particularly by:

  • Monitoring market developments, regulatory and institutional trends and their consequences for the EU economy and its competitive position in the world;
  • Identifying challenges to an integrated European financial market and recommending steps to overcome these hurdles;
  • Assessing the evolving role of financial systems to better serve economic, social and environmental objectives, with particular focus on inclusion, diversity and sustainable finance;
  • Exploring regional linkages and interactions with non-EU financial markets and investigating current challenges and future opportunities.