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Financial integration in Europe - May 2017

Financial integration in Europe - May 2017

The ECB’s annual report on financial integration in Europe contributes to the advancement of the process of European financial integration by analysing its development and the related policies. For the ECB, the market for a given set of financial instruments and/or services is fully integrated if all potential market participants with the same relevant characteristics: (1) face a single set of rules when they decide to deal with those financial instruments and/or services; (2) have equal access to those financial instruments and/or services; and (3) are treated equally when they are active in the market.