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Martin Koch

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Martin Koch

  1. 1. Policy session: Alternative roads to finance for SMEs 20 November 2015 Capital Markets Union (CMU) Martin KOCH Policy Officer Unit C1 - Capital Markets Union Directorate General for Financial Stability, Financial Services and Capital Markets Union (FISMA)
  2. 2. • Stable financial system – Greater variety of funding options cushion the impact of a contraction in bank lending – More developed equity markets support long-term investment • Integrated financial system – Deeper and more liquid markets lower costs and increase competitiveness – MS with small and large capital markets can benefit – Facilitate shock absorption within EMU (risk-sharing CMU: Stronger capital markets support investment, growth & jobs
  3. 3. CMU Action Plan: Actions in 6 key areas
  4. 4. Actions for alternative ways of finance:  Crowdfunding  Business Angels  Venture Capital (EuVECA; Fund-of-Funds)  Loan finance (STS securitisation; loan originating funds)  Better information, support and advice For non-listed companies (for mid-caps; SMEs?)  Private placements  Covered bonds CMU Action Plan: Finance for start-ups and SMEs

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