WRITTEN QUESTION E-0665/03 by Cristiana Muscardini (UEN) to the Commission. Banks and their customers.
Date: 2003-03-06
Institutions: European Parliament, Provisional data
Subjects: approximation of laws, bank, bank charges, banking, customers, freedom to provide services, savings, single market, technical barriers to trade

C 58 E/22

Official Journal of the European Union

EN

6.3.2004

(2004/C 58 E/024)

WRITTEN QUESTION E-0665/03

by Cristiana Muscardini (UEN) to the Commission

(6 March 2003)

Subject: Banks and their customers

Italians are protesting more and more frequently about the treatment they receive from their banks (cid:1)
excessively high costs, lack of transparency, growing inefficiency, obstructive procedures for closing a
current account and little scope for competition, hampered by costly bureaucratic procedures which do
not make things easy for customers who want to change banks. A long list of charges, commission rates,
indirect costs and accounting ‘innovations’ squeeze disproportionately large amounts of money out of
customers. The current stock-market crisis, combined with the unprofessional attitude of many employees,
has helped to fleece users of bank services even more and made them feel more insecure about their
savings.

Can the Commission say:

1. whether it is aware of the situation;

2. whether it does not consider that all bureaucratic and administrative obstacles to competition in the

banking sector should be removed;

3. what stage has been reached in establishing a single market in the sector;

4. whether discount rules and costs in the various Union countries have been harmonised;

5. what powers it has to safeguard the benefits of saving?

Answer given by Mr Bolkestein on behalf of the Commission

(8 April 2003)

As regards completion of the single market in banking, a large number of directives have been adopted
since 1973 with a view to abolishing restrictions on the freedom of movement and freedom to provide
services of banks and other financial institutions. Those directives were coordinated by Parliament and
Council Directive 2000/12/CE of 20 March 2000 relating to the taking up and pursuit of the business of
credit institutions (1). They are designed, among other things, to ensure the protection of savings and the
stability of the banking system and to promote competition between credit institutions in the Union.

The Honourable Member’s question on the degree of harmonisation within the EU of the ‘rules and costs’
relating to banking transactions is very wide-ranging. Strictly speaking, actual bank charges have not been
harmonised.

However, it must be pointed out that, with the Directive of 27 January 1997 (2), the Union put an end to
double charging for cross-border transfers within the Community. In addition, a 2001 Regulation (3)
provided for charges for cross-border payments within the Community (by card or by way of withdrawals)
to be aligned on those for domestic payments with effect from 1 July 2002. This move will be extended to
transfers as of 1 July 2003.

At first sight, it would seem that the other, more general concerns expressed by the Honourable Member
do not strictly relate to Community law and might fall directly within the remit of the Italian authorities.
They would though necessitate a more detailed analysis for which more precise information would be
needed. Accordingly, the Commission would ask the Honourable Member to clarify the exact nature of the
costs and obstacles objected to.

(1) OJ L 126, 26.5.2000, p. 1.
(2) Parliament and Council Directive 97/5/EC on cross-border transfers, OJ L 43, 14.2.1997, p. 25.
(3) Parliament and Council Regulation (EC) 2560/2001 of 19 December 2001 on cross-border payments in euros,

OJ L 344, 28.12.2001.