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      <category>Press_releases</category>
      <title>Completion of the CMDI reform: German Banking Industry Committee calls for practical implementation and transitional periods</title>
      <pubDate>Thu, 26 Mar 2026 11:23:14 +0100</pubDate>
      <description><![CDATA[Following approximately three years of negotiations, the European Parliament and Council have completed their reform of the European crisis management and deposit insurance (CMDI) framework. The formal sign-off means that member states will now start implementing it at national level. The Deutsche Kreditwirtschaft (DK) [German Banking Industry Committee] regards the outcome of the reform as a balanced political compromise overall and believes that the specific details of how it is to be put into practice will be crucial. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Completion_of_the_CMDI_reform_German_Banking_Industry_Committee_calls_for_practical_implementation_and_transitional_periods</link>
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      <title>Cooperative banks generate a profit of €9.5 billion in 2025 </title>
      <pubDate>Tue, 10 Mar 2026 10:21:00 +0100</pubDate>
      <description><![CDATA[The 646 local cooperative banks, Sparda banks, PSD banks, and other cooperative banks in Germany proactively expanded their lending business in 2025. They also achieved solid growth in the competition for deposits. The preliminary results show that they increased their profit before taxes from around €8.7 billion to around €9.5 billion, a rise of 10.1 percent, while their equity grew by 3.7 percent to €69 billion. As had been the case in 2024, the cooperative banks’ loss allowances at around €2.2 billion were at a cautious level that reflected the economic situation. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_generate_a_profit_of_Euro9_5_billion_in_2025</link>
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      <category>Press_releases</category>
      <title>GBIC on RIS agreement: still too complex – few stimuli for more capital market participation</title>
      <pubDate>Thu, 18 Dec 2025 12:59:01 +0100</pubDate>
      <description><![CDATA[European legislators have agreed on key points in trilogue negotiations on the Retail Investment Strategy (RIS). The German Banking Industry Committee (GBIC) welcomes the decision by the Council and Parliament to make changes and simplifications to various aspects of the regulations originally proposed by the European Commission.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_on_RIS_agreement_still_too_complex_-_few_stimuli_for_more_capital_market_participation</link>
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      <category>Press_releases</category>
      <title>GBIC on ECB plans for more efficient regulation and supervision: right direction, but urgent action is required</title>
      <pubDate>Thu, 11 Dec 2025 15:14:24 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) welcomes the initiatives of the European Central Bank (ECB) to simplify regulation under the leadership of Vice-President Luis de Guindos and of the Single Supervisory Mechanism (SSM) to reform European banking supervision.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_on_ECB_plans_for_more_efficient_regulation_and_supervision_right_direction_but_urgent_action_is_required</link>
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      <category>Press_releases</category>
      <title>Payments: EU legislators agree on measures to combat payment fraud</title>
      <pubDate>Thu, 27 Nov 2025 09:03:00 +0100</pubDate>
      <description><![CDATA[The European Union is seeking to curtail instances of fraud where customers are misled into making payments. Criminals often misuse social media and other digital communication channels, such as messaging services, to do this. The Council and the European Parliament have now agreed on the key points for legislative measures.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Payments_EU_legislators_agree_on_measures_to_combat_payment_fraud</link>
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      <category>Press_releases</category>
      <title>GBIC on the SFDR review: right path to more clarity and practicality</title>
      <pubDate>Thu, 20 Nov 2025 13:12:06 +0100</pubDate>
      <description><![CDATA[The EU Commission has today presented its proposal for a review of the Sustainable Finance Disclosure Regulation (SFDR). One key goal of the reform is to make disclosure rules for sustainable finance products simpler and more effective, and to remove inconsistencies. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_on_the_SFDR_review_right_path_to_more_clarity_and_practicality</link>
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      <category>Press_releases</category>
      <title>Efficiency over excessive complexity: GBIC presents its ideas for reforming Europe’s banking regulation</title>
      <pubDate>Mon, 10 Nov 2025 12:56:09 +0100</pubDate>
      <description><![CDATA[The competitiveness of European financial institutions is suffering from the costs of high regulatory burdens and inefficient supervisory requirements. In its latest discussion paper, the German Banking Industry Committee (GBIC) demonstrates how better rules for banks can ensure scope for more growth and investment in a sovereign Europe while, at the same time, maintaining stability.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Efficiency_over_excessive_complexity_GBIC_presents_its_ideas_for_reforming_Europe_s_banking_regulation</link>
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      <category>Press_releases</category>
      <title>Laying foundations for economic growth: At the IMF Annual Meeting, the BVR calls for a more flexible set of rules for cooperative banks</title>
      <pubDate>Thu, 16 Oct 2025 11:35:45 +0100</pubDate>
      <description><![CDATA[This year's Annual Meeting of the International Monetary Fund (IMF) and the World Bank in Washington is taking place against the backdrop of an increasingly fragmented world order. Geopolitical tensions are having an ever greater influence on trade flows, capital flows, and political alliances. In this environment, Europe must be prepared for ongoing uncertainty and needs to strengthen its economic resilience. However, the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] sees Germany as a potential engine for revitalising the European economy, not least because of the German government's €500 billion special fund for infrastructure and climate neutrality. It will be crucial for this public funding to mobilize additional private capital.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Laying_foundations_for_economic_growth_At_the_IMF_Annual_Meeting_the_BVR_calls_for_a_more_flexible_set_of_rules_for_cooperative_banks</link>
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      <category>Press_releases</category>
      <title>Strong customer business: Cooperative Financial Network generates profit of €10.8 billion in 2024 </title>
      <pubDate>Wed, 16 Jul 2025 10:00:00 +0100</pubDate>
      <description><![CDATA[In 2024, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a very satisfying consolidated profit before taxes of €10.8 billion amid challenging conditions. This is the second-highest figure reported in the more than 20 years since the first consolidated financial statements were prepared. However, it represents a decline compared with the record figure of €14.4 billion achieved in 2023. The 2024 figure is in line with the average for the past five years, demonstrating the network’s sustained high level of profitability. Equity rose by around 5 percent to €150.3 billion. The Cooperative Financial Network significantly increased its loss allowances to €4.9 billion in 2024, predominantly to ensure that it is well equipped to deal with the weak macroeconomic conditions. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Strong_customer_business_Cooperative_Financial_Network_generates_profit_of_Euro10_8_billion_in_2024</link>
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      <category>Press_releases</category>
      <title>CMDI Reform: Political agreement leaves many questions unanswered </title>
      <pubDate>Thu, 26 Jun 2025 16:27:21 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee welcomes the political compromise on the reform of the EU bank crisis management and deposit insurance framework (CMDI). “This compromise is a step in the right direction. Deposit insurance can be modernised, and the European resolution regime strengthened. But key questions on the role and financial burden of the national guarantee schemes remain unanswered,” said Heiner Herkenhoff, CEO of the Association of German Banks, this year’s GBIC coordinator.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/CMDI_Reform_Political_agreement_leaves_many_questions_unanswered</link>
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      <category>Press_releases</category>
      <title>PwC study reveals that the costs of the digital euro are running into billions – savings banks and cooperative banks call for closer collaboration</title>
      <pubDate>Fri, 6 Jun 2025 09:42:00 +0100</pubDate>
      <description><![CDATA[A new study from PwC conducted on behalf of the European Banking Federation, the European Association of Co-operative Banks (EACB), and the European Savings and Retail Banking Group (ESBG) shows that the introduction of the digital euro could cost up to €30 billion for banks in the eurozone, even though – as currently conceived – it would not offer any recognizable added value for either consumers or businesses. The umbrella organizations of the Savings Banks Finance Group and the Volksbanken Raiffeisenbanken Cooperative Financial Network are therefore calling for closer collaboration with private initiatives in the European financial sector.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/PwC_study_reveals_that_the_costs_of_the_digital_euro_are_running_into_billions_-_savings_banks_and_cooperative_banks_call_for_closer_collaboration</link>
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      <category>Press_releases</category>
      <title>EU Commission’s Retail Investment Strategy: Good approach – but misses the mark</title>
      <pubDate>Thu, 15 May 2025 13:34:40 +0100</pubDate>
      <description><![CDATA[The aim of the European Commission’s Retail Investment Strategy (RIS) is to encourage more retail investors to invest in the capital market. The German Banking Industry Committee (GBIC) fully supports this aim. However, instead of providing real incentives, the current proposals will actually make access to the capital markets, to advice and to suitable products more difficult. The EU Commission’s inadequate simplification proposals will fail to reverse the trend.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/EU_Commission_s_Retail_Investment_Strategy_Good_approach_-_but_misses_the_mark</link>
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      <category>Press_releases</category>
      <title>European Commission’s proposals for the Savings and Investments Union need to focus more on the value added for businesses and consumers </title>
      <pubDate>Wed, 19 Mar 2025 13:53:38 +0100</pubDate>
      <description><![CDATA[The European Commission today unveiled new steps in its adoption of the Savings and Investments Union (SIU). The initiative is aimed at channeling savings in the EU financial system into productive investments more effectively in order to open up broader access and better financing options for citizens and companies alike. The Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] is pleased to see that the European Commission is fleshing out the Savings and Investments Union project with more tangible ideas. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/European_Commission_s_proposals_for_the_Savings_and_Investments_Union_need_to_focus_more_on_the_value_added_for_businesses_and_consumers</link>
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      <category>Press_releases</category>
      <title>Cooperative banks increase their profit before taxes to €9.5 billion in 2024</title>
      <pubDate>Mon, 10 Mar 2025 19:46:00 +0100</pubDate>
      <description><![CDATA[The 672 local cooperative banks, Sparda banks, PSD banks, and cooperative specialized institutions in Germany increased their profit before taxes by 2.3 percent to €9.5 billion in 2024. This positive trend was driven by both net interest income and net fee and commission income. Moreover, the local cooperative banks saw their equity rise by 3.2 percent to €66 billion as at December 31, 2024.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_increase_their_profit_before_taxes_to_Euro9_5_billion_in_2024</link>
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      <category>Press_releases</category>
      <title>How realistic is the legislative proposal for the digital euro? Study examines the practicality of the ideas.</title>
      <pubDate>Mon, 5 Aug 2024 16:01:34 +0100</pubDate>
      <description><![CDATA[‘The digital euro from a consumer, retailer and industry perspective’ is the title of a study conducted by PaySysConsultancy and commissioned by the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. The study involved carrying out a reality check on the ideas put forward so far by the European Central Bank (ECB) and on the regulatory proposal of the European Commission regarding the design of a digital euro. The political proposals made so far have focused on the digital euro not only as a form of legal tender alongside cash but also as an additional means of payment besides the existing payment methods. What would be the implications for the various market players if these ideas were to be implemented? What added value would there be for merchants and consumers if the digital euro were to be introduced in the form currently envisaged by the ECB? Would the proposals work in practice? Are there any contradictions between the ideas, or are they consistent with each other? Do the proposals provide answers to all the remaining questions regarding implementation?]]></description>
      <link>http://www.bvr.de/Press/Press_releases/How_realistic_is_the_legislative_proposal_for_the_digital_euro_Study_examines_the_practicality_of_the_ideas</link>
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      <category>Press_releases</category>
      <title>2023 consolidated financial statements: profit of €14.4 billion / Cooperative Financial Network is well equipped for change</title>
      <pubDate>Tue, 9 Jul 2024 09:41:00 +0100</pubDate>
      <description><![CDATA[In 2023, the Volksbanken Raiffeisenbanken Cooperative Financial Network achieved a consolidated profit before taxes of €14.4 billion. This represents a significant increase compared with the 2022 figure of €4.2 billion, which had been influenced by interest-rate-related valuation effects. The biggest drivers in 2023 profits were reversals of impairment losses in the securities portfolios and, in particular, the cooperative banks’ traditional customer banking business. The consolidated loans and advances to customers rose by 2.4 percent. Moreover, deposits from customers – which saw a significant reallocation to fixed-term products – held steady year on year at €1,033 billion. Equity went up by 8.6 percent to €143.2 billion. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/2023_consolidated_financial_statements_profit_of_Euro14_4_billion_Cooperative_Financial_Network_is_well_equipped_for_change</link>
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      <category>Press_releases</category>
      <title>BVR: Council of the EU’s decision on CMDI acknowledges institutional protection but improvements are still needed</title>
      <pubDate>Wed, 19 Jun 2024 13:02:51 +0100</pubDate>
      <description><![CDATA[The Council of the European Union (EU) has today decided on its general approach regarding the European Commission’s proposed legislation for amending the crisis management and deposit insurance framework (CMDI review). The Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] welcomes the fact that the Council’s compromise acknowledges the important role of institutional protection schemes and their preventive measures.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_Council_of_the_EU_s_decision_on_CMDI_acknowledges_institutional_protection_but_improvements_are_still_needed</link>
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      <category>Press_releases</category>
      <title>Cooperative Banks and Savings Banks: ECON recognizes the Importance of Deeper Discourse on Stability in the Banking Market</title>
      <pubDate>Thu, 18 Apr 2024 12:26:54 +0100</pubDate>
      <description><![CDATA[The decision of the Committee on Economic and Monetary Affairs (ECON) not to mandate negotiations between the European Parliament, Commission, and Council (Trilogue) regarding a European Deposit Insurance Scheme (EDIS) is appropriate. "Granting a mandate would not have brought improvements for the citizens of the EU; instead, it would have significantly impacted the functioning, preventive security systems of financial institutions", says Marija Kolak, President of the National Association of German Cooperative Banks.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Banks_and_Savings_Banks_ECON_recognizes_the_Importance_of_Deeper_Discourse_on_Stability_in_the_Banking_Market</link>
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      <category>Press_releases</category>
      <title>Savings Banks and cooperative banks: Decentralized Security Systems Must Not Be Restricted in Their Functionality</title>
      <pubDate>Thu, 11 Apr 2024 14:22:34 +0100</pubDate>
      <description><![CDATA[The ECON Committee of the European Parliament intends, in an expedited procedure, to communalize national deposit insurance systems and to forcibly include national institution protection systems without considering the significant structural implications associated with them. Savings Banks as well as cooperative banks in Germany call on the committee to leave the national institution protection systems, which protect nearly 100 million customers across the EU, untouched.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Savings_Banks_and_cooperative_banks_Decentralized_Security_Systems_Must_Not_Be_Restricted_in_Their_Functionality</link>
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      <category>Press_releases</category>
      <title>ECON’s approval of the CMDI proposal jeopardizes Germany’s existing banking structure</title>
      <pubDate>Thu, 21 Mar 2024 09:49:02 +0100</pubDate>
      <description><![CDATA[The European Parliament’s Committee on Economic and Monetary Affairs (ECON) approved a set of reforms to crisis management for banks (Crisis Management Deposit Insurance Review, CMDI) on Wednesday evening. Marija Kolak, President of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks], believes that the reforms will have a far-reaching negative impact on the successful banking structure that exists in Germany: “These crisis management reforms would affect not only our banks but also our 30 million customers and Germany’s SME segment.”]]></description>
      <link>http://www.bvr.de/Press/Press_releases/ECON_s_approval_of_the_CMDI_proposal_jeopardizes_Germany_s_existing_banking_structure</link>
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      <title>Cooperative banks generate a remarkable pre-tax profit of €10.7 billion / Kolak warns Brussels against weakening the institutional protection scheme</title>
      <pubDate>Wed, 6 Mar 2024 09:21:00 +0100</pubDate>
      <description><![CDATA[Based on preliminary figures, the 697 German cooperative banks increased their pre-tax profit by €6.2 billion to €10.7 billion in the financial year 2023. Their financial performance improved significantly due to the year-on-year rise in net interest income and net fee and commission income, as well as the reversal of temporary loss allowances on the banks’ own securities investments. In addition, reported equity rose by 3.2 percent to €64 billion. “These impressive figures show that the cooperative banks have established a very good basis for further growth, which will allow them to continue working successfully for their customers and members in the future,” says Marija Kolak, President of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. At the same time, these figures indicate that the 17.8 million members and 30 million customers have confidence in the cooperative banks when it comes to financial matters. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_generate_a_remarkable_pre_tax_profit_of_Euro10_7_billion_Kolak_warns_Brussels_against_weakening_the_institutional_protection_scheme</link>
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      <title>GBIC sees ECB decision for preparatory phase of a digital euro as positive / Consider risks and hold democratic debate</title>
      <pubDate>Wed, 18 Oct 2023 15:55:02 +0100</pubDate>
      <description><![CDATA[Today's decision by the Governing Council of the European Central Bank (ECB) to move its project to develop a digital euro into a preparation phase is viewed positively by the German Banking Industry (GBIC). "A properly designed digital euro can offer added value for the European economy and society. It can increase European sovereignty in payment transactions, support the ability to innovate and - for example through an offline functionality - strengthen the functionality of payment transactions even in crisis situations," says Tanja Müller-Ziegler, Member of the Board of the Federal Association of German Cooperative Banks (BVR), in charge of GBIC.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_sees_ECB_decision_for_preparatory_phase_of_a_digital_euro_as_positive_Consider_risks_and_hold_democratic_debate</link>
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      <title>2023 EU-wide stress test: capitalization of German institutions proves robust in a tough stress scenario </title>
      <pubDate>Fri, 28 Jul 2023 18:22:10 +0100</pubDate>
      <description><![CDATA[The European Banking Authority (EBA) and the European Central Bank (ECB) have today published the results of their latest periodic stress test. The previous stress test had been conducted in 2021]]></description>
      <link>http://www.bvr.de/Press/Press_releases/2023_EU_wide_stress_test_capitalization_of_German_institutions_proves_robust_in_a_tough_stress_scenario</link>
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      <title>Cooperative Financial Network presents its consolidated financial statements, reporting profit of €3.9 billion thanks to the strength of the customer business</title>
      <pubDate>Tue, 4 Jul 2023 09:41:00 +0100</pubDate>
      <description><![CDATA[In 2022, the Volksbanken Raiffeisenbanken Cooperative Financial Network reported consolidated profit before taxes of €3.9 billion in challenging conditions. The decrease compared with the exceptionally high profit before taxes of €10.5 billion in 2021 was predominantly due to temporary, interest-rate-related negative valuation effects. The valuation losses are likely to be reversed in subsequent years. The Cooperative Financial Network generated substantial growth in its lending business in 2022, with the volume of lending swelling by 6 percent . The volume in the deposit-taking business advanced by 5 percent year on year. Equity stood at €127.6 billion, reflecting the Cooperative Financial Network’s continued very good level of capitalization. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_presents_its_consolidated_financial_statements_reporting_profit_of_Euro3_9_billion_thanks_to_the_strength_of_the_customer_business</link>
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      <title>German banking industry calls for political guard rails for a digital euro</title>
      <pubDate>Wed, 28 Jun 2023 13:49:03 +0100</pubDate>
      <description><![CDATA[- The EU Commission presented a legislative proposal for the introduction of a digital euro today. According to the proposal, the digital euro is intended to be a response to the declining use of cash and to ensure access to central bank money for the population even in the digital age. At the same time, it is intended to help secure Europe's digital and monetary independence.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_banking_industry_calls_for_political_guard_rails_for_a_digital_euro</link>
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      <title>Retail Investment Strategy: Draft legislation does not meet EU Commission’s objectives </title>
      <pubDate>Wed, 24 May 2023 15:09:51 +0100</pubDate>
      <description><![CDATA[The European Commission today presented its draft legislation for a retail investment strategy. As a key element of capital markets union, its aim is to strengthen trust in the capital markets and thereby promote investment by retail investors.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Retail_Investment_Strategy_Draft_legislation_does_not_meet_EU_Commission_s_objectives</link>
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      <title>CMDI review: European Commission putting the continued operation of German bank protection schemes at risk</title>
      <pubDate>Tue, 18 Apr 2023 15:08:47 +0100</pubDate>
      <description><![CDATA[Today, the European Commission published its proposal for reforms to amend legislation on resolution procedures for banks and deposit protection schemes (CMDI review). The proposed amendments cast significant doubt on whether it would still be possible in the future to use the funds of the cooperative institutional protection scheme for preventive measures. From the perspective of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks], the European Commission is thus putting the integrity of bank protection schemes in Germany at risk. Moreover, the BVR rejects the envisaged broader paradigm shift toward granting bank resolution instruments seniority over deposit protection schemes. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/CMDI_review_European_Commission_putting_the_continued_operation_of_German_bank_protection_schemes_at_risk</link>
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      <category>Press_releases</category>
      <title>GBIC: Improving crisis management at banks is a good idea, but the approach proposed by the European Commission is flawed</title>
      <pubDate>Tue, 18 Apr 2023 15:06:21 +0100</pubDate>
      <description><![CDATA[Today, the European Commission published its proposal for reforms to amend legislation governing the handling of banks in financial distress. The reform package seeks to implement far-reaching changes to the Bank Recovery and Resolution Directive, the Single Resolution Mechanism Regulation, and the Deposit Guarantee Schemes Directive. German Banking Industry Committee (GBIC) generally supports the European Commission’s objective of optimizing the existing legal framework. However, Germany’s banks and savings banks reject the European Commission’s plans to establish the bank resolution mechanism as a new standard for small and medium-sized institutions. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_Improving_crisis_management_at_banks_is_a_good_idea_but_the_approach_proposed_by_the_European_Commission_is_flawed</link>
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      <title>Cooperative banks deliver strong operating performance in 2022 / impairment losses only temporary and well manageable thanks to strong capital base</title>
      <pubDate>Tue, 7 Mar 2023 08:24:00 +0100</pubDate>
      <description><![CDATA[The 737 German cooperative banks demonstrated the strength of their operating business once again in 2022. Net interest income rose by 8.2 percent, net fee and commission income by 2.1 percent. Operating income was up by 12.5 percent to €8.1 billion. Temporary impairment losses on securities investments and an increase in loss allowances for loans and advances resulted in a manageable net loss of €4.5 billion in gains and losses on valuation.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_deliver_strong_operating_performance_in_2022_impairment_losses_only_temporary_and_well_manageable_thanks_to_strong_capital_base</link>
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      <title>With substantial profit growth in 2021 and improved capital adequacy, the Cooperative Financial Network is braced for challenging times </title>
      <pubDate>Tue, 12 Jul 2022 09:39:00 +0100</pubDate>
      <description><![CDATA[Frankfurt, July 12, 2022 ─ In 2021, the Volksbanken Raiffeisenbanken Cooperative Financial Network reported consolidated profit before taxes of €10.5 billion in an environment shaped by the coronavirus pandemic and expansionary monetary policy. This rise of nearly 46 percent compared with the prior-year figure of €7.2 billion is attributable to growth in the operating business and a marked reduction in the need to recognize loss allowances. The Cooperative Financial Network’s equity swelled by 6.4 percent to €129.5 billion. The increased volume of customer business meant that consolidated total assets grew by a further 6.1 percent to €1,566 billion.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/With_substantial_profit_growth_in_2021_and_improved_capital_adequacy_the_Cooperative_Financial_Network_is_braced_for_challenging_times</link>
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      <title>German Banking Industry Committee calls for more space for innovation in payments services</title>
      <pubDate>Tue, 5 Jul 2022 10:05:44 +0100</pubDate>
      <description><![CDATA[The European Commission has begun its review of the Revised Payment Services Directive (PSD2). The German Banking Industry Committee advocates gearing it to the actual needs of customers and giving banks more scope for innovation. In its current form, the directive is hindering progress in these areas and setting the wrong incentives for the market.  ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_calls_for_more_space_for_innovation_in_payments_services</link>
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      <title>BVR criticizes the draft report on implementation of Basel III: too little consideration of the characteristics of the European banking market </title>
      <pubDate>Wed, 1 Jun 2022 13:33:32 +0100</pubDate>
      <description><![CDATA[The draft report published today by rapporteur Jonás Fernández, member of the European Parliament, concerning the European Commission’s legislative proposal on the implementation of Basel III in the European Union (‘banking package’) does not sufficiently consider the needs of the German cooperative banks. "This is unfortunately a missed opportunity to take better account of the specific characteristics of the European banking market," says Daniel Quinten, member of the Board of Managing Directors of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. "Particularly for smaller institutions that are part of a wider network – such as the German cooperative banks – and already weighed down by excessive regulation, the rules set out by the European Commission are extremely problematic and the rapporteur has not modified them."]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_criticizes_the_draft_report_on_implementation_of_Basel_III_too_little_consideration_of_the_characteristics_of_the_European_banking_market</link>
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      <title>EU banking package: German banks warn of adverse consequences for the economy</title>
      <pubDate>Wed, 1 Jun 2022 13:33:21 +0100</pubDate>
      <description><![CDATA[The European Parliament’s rapporteur, Jonás Fernández (S&D), has today released his draft report on the European Commission’s legislative proposal for implementing Basel III in the EU (known as the EU banking package). The proposals contained in the Spanish MEP’s report clearly deviate from the approach taken by the European Commission. “Implementation of the proposals would above all significantly limit the transitional arrangements proposed by the Commission. This would place further strain on the European economy at a time of great uncertainty and high investment needs,” said Christian Ossig, Chief Executive of the Association of German Banks, which this year is the coordinator of the German Banking Industry Committee (GBIC). The transitional provisions envisage a temporary reduction of the risk weight for certain loans.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/EU_banking_package_German_banks_warn_of_adverse_consequences_for_the_economy</link>
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      <title>Cooperative banks generate significant growth in customer business in 2021 / Enhanced resilience in a challenging environment dominated by the war in Ukraine</title>
      <pubDate>Tue, 22 Mar 2022 08:11:00 +0100</pubDate>
      <description><![CDATA[The 772 German cooperative banks generated a solid profit before taxes in 2021 thanks to brisk customer business. This was achieved despite the many challenges that arose during the year. Higher volumes of loans and advances, deposits, and brokerage business resulted in a profit before taxes of €7.7 billion. The equity base was also further strengthened, building up even greater resilience to possible economic stresses and strains for the cooperative banks.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_generate_significant_growth_in_customer_business_in_2021_Enhanced_resilience_in_a_challenging_environment_dominated_by_the_war_in_Ukraine</link>
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      <title>Working for one other and for tomorrow – 50 years of the BVR</title>
      <pubDate>Tue, 4 Jan 2022 10:44:00 +0100</pubDate>
      <description><![CDATA[The National Association of German Cooperative Banks (BVR) was established in Bonn on January 3, 1972. Today, the association is headquartered in Berlin, with additional offices in Bonn and Brussels. This year, the cooperative umbrella organization celebrates the 50th anniversary of its founding. We aim to mark this milestone throughout the year, sometimes loudly, sometimes quietly, often reflecting on the past. But always looking to the future. This site provides tremendous insights into the past, present, and future of the BVR. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Working_for_one_other_and_for_tomorrow_-_50_years_of_the_BVR</link>
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      <title>Basel III proposal has strengths and weaknesses </title>
      <pubDate>Wed, 27 Oct 2021 11:53:00 +0100</pubDate>
      <description><![CDATA[Today, the European Commission has published a legislative proposal for the implementation of the Basel III regulatory framework for EU banks as revised by the Basel Committee. “We welcome the clear intention of the European Commission to take account of the particular circumstances of the European banking market,” says Gerhard Hofmann, Member of the Board of Managing Directors of the National Association of German Cooperative Banks (BVR). “However, I would like to have seen bolder ideas regarding exemptions for small banks in the EU – similar to those that countries such as Switzerland, the US, and the UK have already implemented. The European Commission has failed to seize an opportunity to propose greater proportionality.”]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Basel_III_proposal_has_strengths_and_weaknesses</link>
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      <title>2020 a successful year for the Cooperative Financial Network despite coronavirus: customer business accelerates and capital at a good level </title>
      <pubDate>Tue, 13 Jul 2021 10:03:00 +0100</pubDate>
      <description><![CDATA[In 2020, a year dominated by the coronavirus pandemic, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a solid €7.2 billion in consolidated income before taxes. The equivalent figure for the prior year of €10.2 billion had been heavily boosted by valuation effects. In its operating business, the Cooperative Financial Network not only saw a rise in net fee and commission income and net interest income in 2020, but also a slight cost reduction. As a result of the coronavirus pandemic the loss allowances for loans and advances were raised by €1.5 billion as a pre-emptive measure. Equity rose by 5 percent to €121.8 billion. Consolidated total assets grew by 6.6 percent to €1,476 billion.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/2020_a_successful_year_for_the_Cooperative_Financial_Network_despite_coronavirus_customer_business_accelerates_and_capital_at_a_good_level</link>
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      <title>German Banking Industry Committee presents policy paper on “digital euro” - ECB needs to think beyond digital cash</title>
      <pubDate>Mon, 5 Jul 2021 16:35:38 +0100</pubDate>
      <description><![CDATA[In a policy paper, the German Banking Industry Committee (GBIC) for the first time sets out detailed thoughts on the design of a "digital euro". In this paper, experts from Germany’s five national banking associations draw up an ecosystem of innovative forms of money that extends far beyond the idea of digitalised central bank money, which is referred to as Central Bank Digital Currency (CBDC). The ECB will probably launch the project for a digital euro in mid-July 2021.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_presents_policy_paper_on_digital_euro”_ECB_needs_to_think_beyond_digital_cash</link>
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      <title>German Banking Industry Committee: Revising the Consumer Credit Directive with a sense of proportion</title>
      <pubDate>Thu, 1 Jul 2021 13:01:14 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) welcomes the European Commission’s initiative to evaluate the Consumer Credit Directive (2008/48/EC) for the first time since its entry into force in 2010 with a view to meeting the needs of the current Internal Market, not least in the light of advancing digitalisation. The GBIC also pursues the objective of giving European consumers a high degree of consumer protection and a wide range of products that serve their needs. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_Revising_the_Consumer_Credit_Directive_with_a_sense_of_proportion</link>
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      <title>Institutional protection schemes in Europe publish joint declaration in support of a strong banking union</title>
      <pubDate>Fri, 16 Apr 2021 10:10:19 +0100</pubDate>
      <description><![CDATA[The institutional protection schemes in the banking sector in Austria, Germany, Italy, Poland, and Spain have published a joint declaration on their role within a strong banking union. By making this declaration, the institutional protection schemes wish to contribute to the political discussions currently taking place at European level. The signatories to the declaration are calling for the institutional protection schemes and their member banks to be structurally exempted from any mutualized European deposit insurance scheme (EDIS), the establishment of which is currently being discussed.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Institutional_protection_schemes_in_Europe_publish_joint_declaration_in_support_of_a_strong_banking_union</link>
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      <title>Cooperative banks remain reliable and successful during difficult periods / Kolak: "German government needs to adopt a firm anti-EDIS stance" </title>
      <pubDate>Tue, 16 Mar 2021 08:04:00 +0100</pubDate>
      <description><![CDATA[The German cooperative banks performed well in 2020 against a backdrop of challenging economic conditions. The 814 institutions were a reliable financial partner to small and medium-sized enterprise (SME) customers and retail customers during the pandemic. As a result, loans and advances increased by 6.2 percent and deposits by 7.6 percent. Net interest income fell by 1.9 percent, whereas net fee and commission income climbed again year on year (by 3.8 percent). Preliminary net income for the year came to €2.1 billion. The cooperative banks further strengthened their capital adequacy, with an improvement of 4.1 percent.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_remain_reliable_and_successful_during_difficult_periods_Kolak_German_government_needs_to_adopt_a_firm_anti_EDIS_stance</link>
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      <category>Press_releases</category>
      <title>German Banking Industry Committee urges “prudent” discussion when revising the EU rules on crisis management for banks</title>
      <pubDate>Thu, 28 Jan 2021 14:38:52 +0100</pubDate>
      <description><![CDATA[On 26 January 2021, the EU Commission launched the announced consultation on the revision of the crisis management and deposit insurance framework. In November 2020, the EU Commission had already stated that it would present proposals for the revision of the Bank Recovery and Resolution Directive (BRRD), the Single Resolution Mechanism Regulation (SRMR) and the Deposit Guarantee Schemes Directive (DGSD). ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_urges_prudent”_discussion_when_revising_the_EU_rules_on_crisis_management_for_banks</link>
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      <title>The Cooperative Financial Network supports the United Nations’ sustainable development goals</title>
      <pubDate>Thu, 28 Jan 2021 08:48:12 +0100</pubDate>
      <description><![CDATA[The transformation of the economy toward greater sustainability is playing an important role worldwide in efforts to ensure that future generations have access to the same natural resources and prosperity that we take for granted today. On behalf of the Cooperative Financial Network, the National Association of German Cooperative Banks (BVR) has therefore signed a stakeholder endorsement committing it to the principles of the United Nations (UN) for responsible banking. These principles were developed in collaboration with banks by the Finance Initiative of the United Nations Environment Programme and are intended to serve as a framework for working toward the UN sustainable development goals and the targets set by the Paris climate agreement.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/The_Cooperative_Financial_Network_supports_the_United_Nations_sustainable_development_goals</link>
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      <title>BVR on the outcome of the 2020 US election: Opportunity for policy change</title>
      <pubDate>Mon, 9 Nov 2020 10:04:06 +0100</pubDate>
      <description><![CDATA[Statement by Marija Kolak, President of the National Association of German Cooperative Banks (BVR), on the outcome of the US presidential election:]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_on_the_outcome_of_the_2020_US_election_Opportunity_for_policy_change</link>
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      <title>Uniting Europe digitally: 50 years of arts support from 'jugend creativ' celebrated during gala event / patron Iris Berben: "The youth competition is a shining example of corporate citizenship"</title>
      <pubDate>Thu, 10 Sep 2020 11:17:49 +0100</pubDate>
      <description><![CDATA[The local cooperative banks' international youth competition, 'jugend creativ', has been motivating children and young people across Europe to explore social issues through creativity for half a century. Since the first competition was held in 1970, a total of 90 million international entries have been submitted - equivalent to 700 soccer pitches covered in art. The youth competition is thus the biggest of its kind worldwide and has become a cornerstone of support for young people and the arts. The cooperative banks' long-term initiative was acknowledged during an international gala event, which was streamed live from the TIPI AM KANZLERAMT theater in Berlin on September 9, 2020. A total of more than 700 guests joined the online event from countries around the world - including the seven participating European countries Austria, Finland, France, Germany, Italy (South Tyrol), Luxembourg, and Switzerland to celebrate 50 years of 'jugend creativ'. The international winners in the 50th youth competition, whose theme was 'Happiness is…', were also announced.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Uniting_Europe_digitally_50_years_of_arts_support_from_jugend_creativ_celebrated_during_gala_event_patron_Iris_Berben_The_youth_competition_is_a_shining_example_of_corporate_citizenship</link>
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      <title>50 years of ‘jugend creativ’ – 50 years of commitment to creative brilliance: International gala event and awards ceremony live streamed from Berlin</title>
      <pubDate>Thu, 27 Aug 2020 10:57:29 +0100</pubDate>
      <description><![CDATA[The international youth competition ‘jugend creativ’, an initiative of cooperative banks from seven European countries, is celebrating its 50th anniversary. With more than 90 million participants to date, it is not only the world’s biggest creativity competition for young people but also the longest-running private-sector commitment to promoting creativity among children, teenagers, and young adults. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/50_years_of_‘jugend_creativ_-_50_years_of_commitment_to_creative_brilliance_International_gala_event_and_awards_ceremony_live_streamed_from_Berlin</link>
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      <title>2019 consolidated results of the Cooperative Financial Network: solid basis for dealing with the challenges of the coronavirus crisis</title>
      <pubDate>Wed, 15 Jul 2020 10:24:00 +0100</pubDate>
      <description><![CDATA[In 2019, the Volksbanken Raiffeisenbanken Cooperative Financial Network increased its consolidated profit after taxes to €7.0 billion. This strong growth compared with the prior-year figure, which had amounted to €5.4 billion, was primarily attributable to favorable capital markets effects and to the insurance business, whereas traditional banking business made a slightly smaller contribution to profit than in 2018. Given the ongoing policy of low interest rates and the still substantial adverse impact of regulatory requirements, this represents a good result. The Cooperative Financial Network’s loans and advances to retail and corporate customers went up by 6.2 percent to €844.6 billion. There was further growth in deposits from customers, which swelled by 4.5 percent to €880.4 billion. The Cooperative Financial Network significantly increased its balance sheet equity by 7.7 percent to €116 billion. This level of capital ensures that it has the necessary resilience to deal with the challenges presented by the consequences of the coronavirus pandemic, which are still hard to predict. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/2019_consolidated_results_of_the_Cooperative_Financial_Network_solid_basis_for_dealing_with_the_challenges_of_the_coronavirus_crisis</link>
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      <title>2019 financial year: high level of profit before taxes / institutions prepared for an economic downturn </title>
      <pubDate>Tue, 17 Mar 2020 09:00:00 +0100</pubDate>
      <description><![CDATA[In 2019, the 841 local cooperative banks, Sparda banks, PSD banks, and cooperative specialized institutions are expected to have achieved a profit before taxes of €7.6 billion in 2019. This year-on-year increase of 19.3 percent was primarily due to the exceptionally strong uptrend in the capital markets. Lending rose by 6.0 percent and deposits by 5.5 percent during the reporting period. Whereas net fee and commission income climbed by 5.7 percent, there was a moderate decrease in net interest income of 0.6 percent. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/2019_financial_year_high_level_of_profit_before_taxes_institutions_prepared_for_an_economic_downturn</link>
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      <title>Striving for more security – new EU rules for online payments processing</title>
      <pubDate>Wed, 4 Sep 2019 12:25:52 +0100</pubDate>
      <description><![CDATA[The second stage of PSD2, the new EU payment services directive, comes into force on September 14. The aim is to further improve the security of online banking and online credit card payments. Matthias Hönisch, expert for payments processing at the Bun-desverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Associa-tion of German Cooperative Banks], knows what changes the new rules will bring.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Striving_for_more_security_-_new_EU_rules_for_online_payments_processing</link>
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      <title>German Banking Industry Committee supports transitional period for strong customer authentication of online card payments</title>
      <pubDate>Wed, 21 Aug 2019 15:02:14 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) stated against the backdrop of today’s announcement by the Federal Financial Supervisory Authority (BaFin) of transitional arrangements for the authentication of online card payments that banks have almost completed their preparations for the implementation of strong customer authentication through the use of the 3-D Secure procedure. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_supports_transitional_period_for_strong_customer_authentication_of_online_card_payments</link>
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      <title>Cooperative Financial Network publishes its 2018 consolidated financial statements: Stable earnings in the operational customer business / profit before taxes of €7.8 billion</title>
      <pubDate>Thu, 11 Jul 2019 09:24:00 +0100</pubDate>
      <description><![CDATA[In 2018, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a profit before taxes of €7.8 billion. The performance of the traditional banking business was encouragingly stable, with further growth in the deposit-taking and lending businesses. The capital markets volatilities at the end of the year lowers profit before taxes for 2018 as a whole by €1.1 billion compared with the very strong figure reported for 2017. Since then, the capital markets levels have of course rallied.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_publishes_its_2018_consolidated_financial_statements_Stable_earnings_in_the_operational_customer_business_profit_before_taxes_of_Euro7_8_billion</link>
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      <title>German Banking Industry Committee: EU banking package major contribution to stabilising European financial sector</title>
      <pubDate>Tue, 16 Apr 2019 12:46:30 +0100</pubDate>
      <description><![CDATA[The European Parliament today adopted the so-called ‘banking package’ broadly amending cornerstones of banking regulation. It implements Basel Committee rules (Basel III) at European level. These concern, among other things, the introduction of the net stable funding ratio (NSFR) for banks and the availability of sufficient ‘bail-in-able’ financial instruments in the event that banks are resolved.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_EU_banking_package_major_contribution_to_stabilising_European_financial_sector</link>
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      <title>MiFID II is driving customers away from the capital markets</title>
      <pubDate>Thu, 14 Mar 2019 11:49:33 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) has studied the impact of the European Markets in Financial Instruments Directive (MiFID II). Professor Stephan Paul of Ruhr University Bochum interviewed around 3,000 customers and over 150 banks in Germany on behalf of GBIC. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/MiFID_II_is_driving_customers_away_from_the_capital_markets</link>
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      <category>Press_releases</category>
      <title>Cooperative banks generate a healthy profit before taxes of €6.4 billion and further expand their market share in the customer business </title>
      <pubDate>Tue, 12 Mar 2019 16:02:00 +0100</pubDate>
      <description><![CDATA[The German local cooperative banks, Sparda banks, PSD banks, and cooperative specialized institutions achieved a profit before taxes of €6.4 billion in 2018 thanks to steady net interest income and an increase in net fee and commission income. The year under review saw gains in market share in the lending and deposit-taking business, the growth of cooperative network business with the entities in the Cooperative Financial Network, and capital expenditure on digitalization. The number of banks fell by 40 to 875 as a result of mergers. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_generate_a_healthy_profit_before_taxes_of_Euro6_4_billion_and_further_expand_their_market_share_in_the_customer_business</link>
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      <title>German Banking Industry Committee calls for leaner and more effective rules on non-performing loans </title>
      <pubDate>Thu, 6 Dec 2018 13:11:49 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) sees room for improvement regarding the resolution adopted today by the European Parliament’s Committee on Economic and Monetary Affairs (ECON) on what is referred to as the prudential provisioning mechanism. The rules on non-performing loans (NPLs) need to become leaner and more effective.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_calls_for_leaner_and_more_effective_rules_on_non_performing_loans</link>
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      <title>Agreement reached on the EU Banking Package on the finishing straight</title>
      <pubDate>Tue, 4 Dec 2018 16:35:00 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) welcomes the fact that the negotiations on what is referred to as the “Banking Package” (CRR II / CRD V / BRRD II / SRMR II) have recently gained significant depth and momentum and that an important agreement on key issues has been reached at today’s meeting of Economic and Finance Ministers (ECOFIN). The compromise that has been reached on the Banking Package is an important contribution toward further stabilising the European financial sector. In addition, it takes into account the various interests of Europe’s heterogeneous banking markets.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Agreement_reached_on_the_EU_Banking_Package_on_the_finishing_straight</link>
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      <category>Press_releases</category>
      <title>Cooperative Financial Network contributes €145 million to charitable causes, setting a new record for its CSR activities</title>
      <pubDate>Tue, 18 Sep 2018 09:00:00 +0100</pubDate>
      <description><![CDATA[The Volksbanken Raiffeisenbanken Cooperative Financial Network did more in the area of corporate social responsibility (CSR) than ever before last year. The local cooperative banks and their specialized institutions provided financial assistance totaling €145 million to people in Germany in 2017, thereby setting a new record. Donations from the Volksbanken Raiffeisenbanken and other cooperative banks reached €106 million and local communities benefited from sponsorship worth €30 million; income from charitable foundations added a further €9 million. Children and young people are the main beneficiaries of the Cooperative Financial Network’s CSR activities. At €301 million, the amount made available to charitable foundations exceeded the €300 million mark for the first time to reach a whole new level. To put that into context, the equivalent amount for 2010 was only around €140 million. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_contributes_Euro145_million_to_charitable_causes_setting_a_new_record_for_its_CSR_activities</link>
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      <category>Press_releases</category>
      <title>Cooperative Financial Network’s profit before taxes rises to €8.9 billion / equity breaks through the €100 billion threshold</title>
      <pubDate>Wed, 18 Jul 2018 10:11:00 +0100</pubDate>
      <description><![CDATA[In 2017, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a sound consolidated profit before taxes of €8.9 billion, an increase of 7.3 percent. It also significantly boosted its equity to €104.4 billion, the first time that this figure has exceeded the €100 billion mark at consolidated level. The Cooperative Financial Network is thus well equipped to cope with possible threats to global economic growth. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_s_profit_before_taxes_rises_to_Euro8_9_billion_equity_breaks_through_the_Euro100_billion_threshold</link>
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      <title>EU Banking Package: EU Council adopts general approach</title>
      <pubDate>Fri, 25 May 2018 14:56:00 +0100</pubDate>
      <description><![CDATA[One of the aims of the general approach adopted by the EU Council today to what is referred to as the “Banking Package” (CRR II / CRD V) is to tighten the own funds requirements. Secondly, banking regulation is to be focused more strongly on the size and the complexity of credit institutions. Another module includes the amendments to the EU’s Bank Resolution and Recovery Directive (BRRD II) and to the Single Resolution Mechanism Regulation (SRMR II), which have also been adopted. What is at issue, in particular, is the implementation of the international recommendations on total loss-absorbing capacity (TLAC) and their harmonisation with minimum requirements for own funds and eligible liabilities (MREL).]]></description>
      <link>http://www.bvr.de/Press/Press_releases/EU_Banking_Package_EU_Council_adopts_general_approach</link>
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      <category>Press_releases</category>
      <title>Ahead of the presentation of the Charlemagne Prize to Emmanuel Macron, BVR President Kolak says that decentralization strengthens Europe </title>
      <pubDate>Wed, 9 May 2018 09:25:06 +0100</pubDate>
      <description><![CDATA[At the Europa Forum in Aachen on the day before the International Charlemagne Prize is awarded to the President of France Emmanuel Macron, the President of the National Association of German Cooperative Banks (BVR) Marija Kolak called for a return to more discussion about Europe. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Ahead_of_the_presentation_of_the_Charlemagne_Prize_to_Emmanuel_Macron_BVR_President_Kolak_says_that_decentralization_strengthens_Europe</link>
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      <title>Cooperative financial network launches Alexa skill for voice banking</title>
      <pubDate>Wed, 2 May 2018 11:50:00 +0100</pubDate>
      <description><![CDATA[The cooperative banks in Germany have launched the first Alexa skill voice service across their network. The Volksbanken Raiffeisenbanken skill has been available in Amazon's German-language Alexa Skills Store since the end of April. It allows cooperative bank customers who have enabled the skill to quickly and easily access relevant information. Questions such as “Alexa, ask Volksbank which credit card is the best one for me” or “Alexa, ask Raiffeisenbank what a mobile TAN is” are now answered by Alexa using the Volksbanken Raiffeisenbanken skill. Initially, customers will be able to ask for general information relating to the cooperative banks and the services they offer. They will also be able to ask whether a particular branch is currently open, when it closes, and how they can contact their bank advisor, as well as find out more about the types of account available. Each local cooperative bank can integrate its own customized answers and dialogs, for example relating to account types or local news and events.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_financial_network_launches_Alexa_skill_for_voice_banking</link>
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      <title>Local cooperative banks maintain steady net income for 2017</title>
      <pubDate>Tue, 13 Mar 2018 09:57:00 +0100</pubDate>
      <description><![CDATA[In 2017, the 915 local cooperative banks, PSD banks, Sparda banks, and cooperative specialized institutions delivered a healthy operating performance and are expected to report an operating profit including gains and losses on valuation of €7.3 billion. "Rigorous efforts to manage costs combined with the significant growth in business enabled them to maintain operating profit at the prior-year level against a challenging backdrop of persistently low interest rates, fierce competition, and increasing regulatory requirements," explains Marija Kolak, President of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. The cost/income ratio improved to 67.4 percent, compared with 68.2 percent in 2016. Moreover, the local cooperative banks' net income for the year after taxes and after the addition to the fund for general banking risks held steady and is predicted to be €1.6 billion.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Local_cooperative_banks_maintain_steady_net_income_for_2017</link>
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      <title>Berlin Group publishes Version 1.0 of the NextGenPSD2 Framework</title>
      <pubDate>Thu, 8 Feb 2018 11:13:00 +0100</pubDate>
      <description><![CDATA[Today, the Berlin Group has published Version 1.0 of the NextGenPSD2 Access to Accounts (XS2A) Framework that enables Third Party Providers (TPPs) to access bank accounts under the revised Payment Services Directive (PSD2). Version 1.0 integrates extensive public market consultation feedback and is based on the European Commission adopted European Banking Authority (EBA) Regulatory Technical Standards (RTS) for Strong Customer Authentication and Common and Secure Open Standards of Communication.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Berlin_Group_publishes_Version_1_0_of_the_NextGenPSD2_Framework</link>
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      <title>German Banking Industry Committee: Agreement on Basel IV must not be detrimental to Europe's economy</title>
      <pubDate>Thu, 7 Dec 2017 17:59:17 +0100</pubDate>
      <description><![CDATA[The Basel Committee has reached agreement on the Basel IV package following lengthy and difficult negotiations. It should be acknowledged that Germany's negotiators, in particular, fought long and hard against a compromise that would adversely affect European banks. However, now that a quantitative lower limit (output floor) of 72.5 percent has been set for methods of calculating capital requirements that are based on internal models, the Basel Committee is not fulfilling the objective that it set itself for Europe of not allowing the capital requirements to rise significantly. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_Agreement_on_Basel_IV_must_not_be_detrimental_to_Europe_s_economy</link>
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      <title>German Banking Industry Committee rejects current EU Commission proposals to create a uniform European Deposit Insurance Scheme (EDIS)</title>
      <pubDate>Wed, 11 Oct 2017 13:30:44 +0100</pubDate>
      <description><![CDATA[The European Commission's discussion paper published today on the completion of the Banking Union with a European Deposit Insurance Scheme (EDIS) represents only marginal progress, according to the German Banking Industry Committee. In the opinion of the German banks and savings banks, the approach to the design of EDIS in the form of the two phases of so-named reinsurance and co-insurance, which is only slightly modified compared with the original proposals in November 2015, is not convincing.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_rejects_current_EU_Commission_proposals_to_create_a_uniform_European_Deposit_Insurance_Scheme_(EDIS)</link>
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      <title>Berlin Group launches Public Market Consultation on NextGenPSD2 Standard</title>
      <pubDate>Wed, 27 Sep 2017 09:24:02 +0100</pubDate>
      <description><![CDATA[On 2 October 2017, The Berlin Group will launch a 6-weeks public market consultation on its NextGenPSD2 Access to Accounts (XS2A) Standard that enables Third Party Providers (TPPs) to access bank accounts under the revised Payment Services Directive (PSD2). Following market consultation, the Berlin Group aims to publish the first final version of the standard before the end of 2017. Public market consultation is further supported by a NextGenPSD2 Conference to be held in Berlin on 25 October 2017.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Berlin_Group_launches_Public_Market_Consultation_on_NextGenPSD2_Standard</link>
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      <title>The German Banking Industry Committee on the Survey by the Bundesbank and BaFin of the Financial Performance and Resilience of German Credit Institutions in the 2017 Low Interest Rate Environment</title>
      <pubDate>Wed, 30 Aug 2017 11:06:18 +0100</pubDate>
      <description><![CDATA[The reports published by the Deutsche Bundesbank and the German Federal Financial Supervisory Authority (BaFin) on August 30, 2017 on the 'Multi-institutional request for information concerning the financial performance and resilience of German credit institutions in the 2017 low interest rate environment' reflect the currently stable financial position of credit institutions in Germany, say the leading banking-sector organizations that make up the German Banking Industry Committee (DK). The findings show that the institutions have spent the past few years further improving their capital adequacy. The stress tests carried out by the German regulators also confirm that the institutions examined are well equipped to withstand theoretically possible stress situations.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/The_German_Banking_Industry_Committee_on_the_Survey_by_the_Bundesbank_and_BaFin_of_the_Financial_Performance_and_Resilience_of_German_Credit_Institutions_in_the_2017_Low_Interest_Rate_Environment</link>
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      <category>Press_releases</category>
      <title>Position of the German Banking Industry Committee on the EU interim report on sustainable finance: Incentives for investment are appropriate; unnecessary regulation should be avoided</title>
      <pubDate>Tue, 18 Jul 2017 15:00:15 +0100</pubDate>
      <description><![CDATA[At the end of last year, the European Commission established a high-level expert group to give advice on the Commission's sustainable finance initiative. The group delivered its first interim report on July 13, 2017, which will be discussed today at a public hearing of the Commission in Brussels. The German Banking Industry Committee regards the interim report and the work of the expert group as an important contribution to the debate. German banks already play an important role in stimulating investment and creating jobs by lending to businesses. The German banking industry also provides a range of sustainability-oriented financial products and services to underpin the sustainable development of the economy at a time of climate change and the switch to renewable energy sources. These include green bonds, for which standards have already been developed through industry initiatives such as the Green Bond Principles, and savings certificates issued to fund green projects (Klimaschutzbriefe) that are offered particularly by regional banks to broad sections of the public. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Position_of_the_German_Banking_Industry_Committee_on_the_EU_interim_report_on_sustainable_finance_Incentives_for_investment_are_appropriate_unnecessary_regulation_should_be_avoided</link>
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      <title>At €8.3 billion, profit before taxes remains at a high level / Cooperative Financial Network publishes its 2016 consolidated financial statements</title>
      <pubDate>Tue, 11 Jul 2017 10:00:00 +0100</pubDate>
      <description><![CDATA[In 2016, the Volksbanken Raiffeisenbanken Cooperative Financial Network generated a consolidated profit before taxes calculated in accordance with International Financial Reporting Standards (IFRS) of €8.3 billion. The Cooperative Financial Network's annual consolidated financial statements include all 972 cooperative banks in Germany, along with DZ BANK and the specialized service providers in the Cooperative Financial Network, such as Bausparkasse Schwäbisch Hall, Union Investment, and R+V Versicherung. The strong growth of the customer business had a significant influence on profit before taxes but was able to only partly offset the decline in interest income. Although this meant that the Cooperative Financial Network was unable to match the exceptionally good profit before taxes of €9.8 billion reported for 2015, it can look back on another successful financial year, remaining one of the most profitable banking groups in Europe.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/At_Euro8_3_billion_profit_before_taxes_remains_at_a_high_level_Cooperative_Financial_Network_publishes_its_2016_consolidated_financial_statements</link>
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      <category>Press_releases</category>
      <title>BVR President Uwe Fröhlich to move to DZ BANK / BVR Administrative Board appoints Marija Kolak, Member of the Board of Managing Directors of Berliner Volksbank, as his successor</title>
      <pubDate>Tue, 4 Jul 2017 10:19:28 +0100</pubDate>
      <description><![CDATA[On Tuesday, the Administrative Board of the National Association of German Cooperative Banks (BVR) acceded to BVR President Uwe Fröhlich’s stated wish to terminate his current contract prematurely on October 31, 2017. He will, however retain a pivotal role within the Volksbanken Raiffeisenbanken cooperative financial network in the future: From 2019, he and Dr. Cornelius Riese, currently chief financial officer at DZ BANK AG, will be appointed as co-chairs of the Board of Managing Directors of DZ BANK and will jointly take over management of the bank from Wolfgang Kirsch. Fröhlich will join DZ BANK on November 1, 2017 in order to prepare for his future role as co-chair of the Board of Managing Directors.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_President_Uwe_Froehlich_to_move_to_DZ_BANK_BVR_Administrative_Board_appoints_Marija_Kolak_Member_of_the_Board_of_Managing_Directors_of_Berliner_Volksbank_as_his_successor</link>
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      <title>German Banking Industry Committee: critical review of the EU supervisory authorities' activities in the financial sector</title>
      <pubDate>Wed, 31 May 2017 08:31:04 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (DK) is in favor of a critical review of the work of EU supervisory authorities in the financial sector. Germany's banks and savings banks therefore welcome the European Commission's initiation of a discussion on the future tasks and structures of three European supervisory authorities (ESAs): the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), and the European Insurance and Occupational Pensions Authority (EIOPA). The DK believes that the discussion, to which it is contributing by issuing its own statement, opens up the possibility of addressing deficiencies revealed in the past and helping to shape the future direction of the ESAs.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_critical_review_of_the_EU_supervisory_authorities_activities_in_the_financial_sector</link>
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      <title>EACB reaffirms its support and commitment to the European project</title>
      <pubDate>Fri, 24 Mar 2017 12:00:00 +0100</pubDate>
      <description><![CDATA[In view of the celebration of the 60th anniversary of the Rome Treaties, the EACB (European Association of Co-operative Banks) – representing 4,050 local and regional banks, 79 million members and 210 million customers (half of EU population) - reaffirms its support and commitment to the European project, in line with the co-operative banks’ values and their role in the European economy, as follows:]]></description>
      <link>http://www.bvr.de/Press/Press_releases/EACB_reaffirms_its_support_and_commitment_to_the_European_project</link>
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      <category>Press_releases</category>
      <title>EU action plan for consumer financial services may strengthen trust in the single market / Equal rules for all providers needed </title>
      <pubDate>Thu, 23 Mar 2017 13:04:09 +0100</pubDate>
      <description><![CDATA[The European Commission presented its 'Consumer Financial Services Action Plan: Better Products, More Choice' in Brussels today. The four associations – National Association of German Cooperative Banks (BVR), German Savings Banks Association (DSGV), Association of German Public Banks (VÖB), and Association of German Pfandbrief Banks (vdp) – support the action plan's objectives of strengthening consumer confidence, reducing regulatory obstacles to the cross-border provision of products and services, and supporting the development of innovative digital financial services for consumers. It is right and indeed necessary that the Commission is applying the tried-and-tested tools of its 'better regulation' approach, which includes public consultations, impact studies, etc.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/EU_action_plan_for_consumer_financial_services_may_strengthen_trust_in_the_single_market_Equal_rules_for_all_providers_needed</link>
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      <title>Local cooperative banks generate above-average growth in the customer business and deliver a solid financial performance</title>
      <pubDate>Tue, 14 Mar 2017 10:00:00 +0100</pubDate>
      <description><![CDATA[The German cooperative banks demonstrated their earnings power once more in 2016. With net income for the year before taxes of €6.8 billion – an increase of 2.2 percent – the preliminary earnings of the local cooperative banks were again at a high level. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Local_cooperative_banks_generate_above_average_growth_in_the_customer_business_and_deliver_a_solid_financial_performance</link>
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      <category>Press_releases</category>
      <title>Regional credit institutions call for better regulation, differentiated according to risk content and size</title>
      <pubDate>Thu, 9 Mar 2017 08:36:43 +0100</pubDate>
      <description><![CDATA[Appropriate regulation, differentiated according to risk content and size, which takes account of their importance for the economy and for society – this is what savings banks and co-operative banks called for today in Berlin. At a joint conference in Berlin, the German Savings Banks Association (DSGV), the Federal Association of German Co-operative Banks (BVR), the World Savings Banks Institute (WSBI) and the European Association of Co-operative Banks (EACB) discussed the contribution made by their banks with a view to the concerns of Germany‘s G20 Presidency. They requested that the right course be set at international level for the reasonable regulation of small credit institutions and institutions with simple business models.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Regional_credit_institutions_call_for_better_regulation_differentiated_according_to_risk_content_and_size</link>
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      <title>Banking industry on the German G20 presidency: Further strengthen global economic and financial resilience </title>
      <pubDate>Wed, 30 Nov 2016 10:32:00 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC) welcomes it that, under the new German presidency, the G20 aims to further strengthen the resilience of economies and financial markets in 2017 as well. The GBIC member associations endorse, in particular, the intention of the world’s 20 leading industrialised nations to create a sound, comprehensive framework for evaluating the large number of supervisory rules and regulations and their impact. This will also cover the appropriateness and quality of regulatory measures. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Banking_industry_on_the_German_G20_presidency_Further_strengthen_global_economic_and_financial_resilience</link>
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      <title>German Banking Industry Committee welcome Esther de Lange’s report on the planned European Deposit Insurance Scheme (EDIS)</title>
      <pubDate>Fri, 4 Nov 2016 14:29:39 +0100</pubDate>
      <description><![CDATA[The report by Esther de Lange, MEP and member of the European People’s Party, on the European Deposit Insurance Scheme is basically a step in the right direction in the view of the German Banking Industry Committee (GBIC). GBIC welcomes the fact that Ms de Lange envisages no comprehensive mutualisation of deposit insurance funds and in the first phase only liquidity support. In the second phase, too, a participating deposit guarantee scheme would only be able to shift its losses partially – and not fully as under the Commission proposal – onto the other schemes. This mitigates, though does not eliminate, the problem inherent in the Commission proposal of mutualising bank risks, which to a large extent arise from national policies and specificities.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_welcome_Esther_de_Lange_s_report_on_the_planned_European_Deposit_Insurance_Scheme_(EDIS)</link>
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      <title>BVR statement regarding the de Lange report on the planned European Deposit Insurance Scheme (EDIS)</title>
      <pubDate>Tue, 1 Nov 2016 12:03:48 +0100</pubDate>
      <description><![CDATA[Gerhard Hofmann, member of the Board of Managing Directors of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks], has made the following statement about the proposals – announced in the press – of the European Parliament's rapporteur, Esther de Lange, regarding the planned introduction of a centralized European Deposit Insurance Scheme (EDIS) for the European Union:]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_statement_regarding_the_de_Lange_report_on_the_planned_European_Deposit_Insurance_Scheme_(EDIS)</link>
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      <title>GBIC on Basel IV negotiations: great danger of German banks being placed at a considerable disadvantage</title>
      <pubDate>Thu, 15 Sep 2016 10:35:55 +0100</pubDate>
      <description><![CDATA[The member associations of the German Banking Industry Committee (GBIC) warn that the ongoing Basel IV negotiations could place German banks at a considerable disadvantage. The international negotiations at the Basel Committee on Banking Supervision on completing Basel III (“Basel IV”) are proceeding apace and are to be concluded by the end of the year. As recently confirmed at G-20 level, it is not intended that capital requirements for financial institutions will significantly increase.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_on_Basel_IV_negotiations_great_danger_of_German_banks_being_placed_at_a_considerable_disadvantage</link>
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      <title>GBIC: Postpone the PRIIPs Regulation – threat of considerable legal uncertainty until all requirements are in place</title>
      <pubDate>Wed, 14 Sep 2016 13:50:24 +0100</pubDate>
      <description><![CDATA[The member associations of the German Banking Industry Committee (GBIC) warn of considerable legal uncertainty surrounding the planned introduction of standardised European key information documents for packaged retail and insurance-based investment products, or PRIIPs for short. The European Parliament has today taken the unprecedented step of deciding to reject the so-called Level 2 measures of the PRIIPs Regulation. These measures were intended to standardise throughout Europe the content and presentation of the key information document required under the PRIIPs Regulation.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/GBIC_Postpone_the_PRIIPs_Regulation_-_threat_of_considerable_legal_uncertainty_until_all_requirements_are_in_place</link>
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      <category>Press_releases</category>
      <title>BVR statement on negative interest rates</title>
      <pubDate>Thu, 11 Aug 2016 11:01:57 +0100</pubDate>
      <description><![CDATA[Responsibility for deciding on terms and conditions lies with the local cooperative banks. However, the BVR does not believe that we in Germany will see negative interest rates in retail banking across the board – not least because of the fierce competition that prevails in the German banking market. In any case, the measures discussed do not relate to classic consumer business (Raiffeisenbank Gmund am Tegernsee said on Wednesday that it would charge a fee of 0.4 percent on deposits of more than €100,000 held in current accounts and instant-access accounts).]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_statement_on_negative_interest_rates</link>
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      <title>Annual consolidated financial statements for 2015: Cooperative Financial Network generates a profit before taxes of €9.8 billion / Fröhlich calls for greater subsidiarity in Europe and warns against handing over further powers to Brussels</title>
      <pubDate>Wed, 6 Jul 2016 09:01:00 +0100</pubDate>
      <description><![CDATA[The Volksbanken Raiffeisenbanken Cooperative Financial Network with its 1,021 cooperative banks, its central institutions, and specialized service providers achieved a profit before taxes of €9.8 billion last year, as reported in its 2015 annual consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS). The financial year was again characterized by a sharp rise in the volume of customer business. Overall, net interest income amounted to €20.0 billion, which was very close to the level of the previous year. Net fee and commission income climbed by €331 million to €5.8 billion. The Cooperative Financial Network has therefore once more showed itself to be one of Europe's most profitable banking groups. Consolidated equity advanced to €93 billion last year, underpinning the network's solid competitive position. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Annual_consolidated_financial_statements_for_2015_Cooperative_Financial_Network_generates_a_profit_before_taxes_of_Euro9_8_billion_Froehlich_calls_for_greater_subsidiarity_in_Europe_and_warns_against_handing_over_further_powers_to_Brussels</link>
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      <title>German Banking Industry Committee regrets Brexit vote – German financial marketplace robust</title>
      <pubDate>Fri, 24 Jun 2016 08:20:47 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (GBIC), made up of the five leading banking-sector associations, regrets the vote by the British people in favour of leaving the EU. The EU should now quickly establish clarity on how the Brexit negotiations are to proceed. It also needs to find an answer to the ever louder criticism of the EU and its institutions.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_regrets_Brexit_vote_-_German_financial_marketplace_robust</link>
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      <title>German business in favour of autonomous deposit insurance in Europe</title>
      <pubDate>Tue, 7 Jun 2016 11:00:00 +0100</pubDate>
      <description><![CDATA[German business warns of the destabilizing effects of centralized European deposit insurance. The National Association of German Cooperative Banks (BVR), the Federation of German Wholesale, Foreign Trade and Services (BGA), the Association of German Chambers of Industry and Commerce (DIHK), the German Savings Banks Association (DSGV) and the German Association of Skilled Trades (ZDH) are calling for a European system of individual responsibility for savings protection and, with this aim, have joined other industry associations in the German business initiative for effective deposit protection.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_business_in_favour_of_autonomous_deposit_insurance_in_Europe</link>
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      <title>Opinion confirms inadequate legal basis for a European Deposit Insurance Scheme (EDIS)</title>
      <pubDate>Tue, 19 Apr 2016 09:11:35 +0100</pubDate>
      <description><![CDATA[Article 114 of the Treaty on the Functioning of the European Union (TFEU), cited by the European Commission as the basis for creating a European Deposit Insurance Scheme (EDIS), is not an adequate legal basis. This is the conclusion of a legal opinion obtained by the German Banking Industry Committee (GBIC) from Professor Matthias Herdegen and unveiled today in Brussels. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Opinion_confirms_inadequate_legal_basis_for_a_European_Deposit_Insurance_Scheme_(EDIS)</link>
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      <title>Financial results for 2015: The local cooperative banks maintain their earnings power and gain market share – reserves strengthened</title>
      <pubDate>Wed, 9 Mar 2016 11:00:00 +0100</pubDate>
      <description><![CDATA[According to preliminary figures, the 1,021 German cooperative banks generated net income for the year of €2.1 billion after taxes in 2015. This was on a par with the high level of income generated in 2014 (decrease of 0.8 percent) – despite challenging monetary policy and regulatory requirements. Moreover, the German cooperative banks gained further market share in the customer business. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Financial_results_for_2015_The_local_cooperative_banks_maintain_their_earnings_power_and_gain_market_share_-_reserves_strengthened</link>
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      <title>New GBIC expert opinion: leverage ratio sets serious perverse incentives</title>
      <pubDate>Thu, 25 Feb 2016 11:53:33 +0100</pubDate>
      <description><![CDATA[A leverage ratio will not make the financial system more stable. On the contrary, an inflexible instrument of this kind sets dangerous perverse incentives. This is the conclusion of a new expert opinion commissioned by the member associations of the German Banking Industry Committee (GBIC) from Professor Thomas Hartmann-Wendels of the University of Cologne. As GBIC stresses, a leverage ratio prevents neither excessive leverage, nor the understating of risk, nor the procyclical effects of risk-based rules.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/New_GBIC_expert_opinion_leverage_ratio_sets_serious_perverse_incentives</link>
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      <title>German Banking Industry Committee critical of unnecessary regulatory burdens</title>
      <pubDate>Thu, 4 Feb 2016 12:15:46 +0100</pubDate>
      <description><![CDATA[In its response to a consultation by the European Commission, the German Banking Industry Committee (GBIC) criticises “unnecessary burdens” arising from new banking regulation. The costs generated by implementing the regulatory requirements pose a significant challenge, especially for small banks. GBIC is highly critical of the excessively short periods granted to implement many regulatory requirements.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_critical_of_unnecessary_regulatory_burdens</link>
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      <title>BVR on EU proposals for a European deposit protection system: German savers must not be made to pay for the mutualization of European banking risk</title>
      <pubDate>Thu, 26 Nov 2015 09:44:05 +0100</pubDate>
      <description><![CDATA[The proposals laid out on November 24, 2015 by the European Commission for the progressive expansion of European deposit protection up to 2024 pose a risk to German savers, warns the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks]. "Ultimately, the proposals mean a misappropriation of the safety buffer created for savers in Germany and a reduction in consumer protection. It is not right that German savers are made jointly liable for protecting the high-risk business policies of banks in Europe. This would achieve precisely the opposite of what was supposed to be established by banking union: stability and confidence in the markets," said the President of the BVR, Uwe Fröhlich.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_on_EU_proposals_for_a_European_deposit_protection_system_German_savers_must_not_be_made_to_pay_for_the_mutualization_of_European_banking_risk</link>
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      <title>Why our protection scheme should itself be protected</title>
      <pubDate>Fri, 13 Nov 2015 10:45:00 +0100</pubDate>
      <description><![CDATA[The European Union (EU) wants to convert all the national deposit guarantee schemes into one unified European system. However, not every EU country’s deposit protection is as well developed as Germany’s. Many countries first need to develop their own deposit protections according to a pan-European standard - since 2015 all the countries in the EU have been required to have deposit guarantee schemes - and fill them with money. Otherwise in an emergency the insurance money intended for a country´s deposits would flow to countries with less insured finances. German cooperative banks are standing firm by individual responsibility. This film explains why our protection scheme should itself be protected.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Why_our_protection_scheme_should_itself_be_protected</link>
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      <title>Volksbanken and Sparkassen against communitisation of deposit protection</title>
      <pubDate>Tue, 10 Nov 2015 09:20:19 +0100</pubDate>
      <description><![CDATA[The Genossenschaftliche Finanzgruppe [Cooperative Finance Group] and the Sparkassen-Finanzgruppe [Savings Banks Finance Group] unanimously reject any form of communitisation of deposit protection in the euro zone. The Bundesverband der Deutschen Volksbanken und Raiffeisenbanken [National Association of German Cooperative Banks – BVR] and the Deutsche Sparkassen- und Giroverband [German Savings Bank Association – DSGV] made their position quite clear in a joint statement to EU lawmakers in Brussels today.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Volksbanken_and_Sparkassen_against_communitisation_of_deposit_protection</link>
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      <title>BVR report on the impact of regulation: Disproportionate strain on small and medium-sized banks</title>
      <pubDate>Wed, 30 Sep 2015 11:31:00 +0100</pubDate>
      <description><![CDATA[The average regulatory costs in small and medium-sized banks are often many times higher than in large institutions. Reporting and investor protection are the biggest drain on resources. At very small banks, the estimated costs for the investor protection documentation in fact exceed the gross profit that they make from the securities investment advice transaction. The boards of managing directors in smaller banks now spend a significant proportion of their time on regulatory matters. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_report_on_the_impact_of_regulation_Disproportionate_strain_on_small_and_medium_sized_banks</link>
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      <title>German Banking Industry Committee: Future banking regulation must not restrict lending</title>
      <pubDate>Wed, 30 Sep 2015 10:00:06 +0100</pubDate>
      <description><![CDATA[On the occasion of the publication of the European Commission’s Capital Markets Union Action Plan, the German Banking Industry Committee (GBIC) welcomes the fact that the Commission continues to acknowledge the key role played by bank-based financing for business enterprises. Not only small and medium-sized enterprises (SMEs), which largely finance their operations by bank loans, but also larger companies, which usually rely on the close involvement of principal banks for their entire financing needs, benefit from a stable and efficient banking system in Europe.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_Future_banking_regulation_must_not_restrict_lending</link>
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      <title>German Banking Industry Committee: European deposit protection is neither necessary nor helpful </title>
      <pubDate>Fri, 11 Sep 2015 09:05:00 +0100</pubDate>
      <description><![CDATA[The German Banking Industry Committee (DK) does not believe any form of 'Europeanization' of deposit protection is helpful. We resolutely oppose any potential transfer union. The DK unreservedly supports the German government's reiteration of its criticism of further steps to link or even mutualize deposit guarantee schemes within the EU. Savers must have confidence in the safety of their deposits at all times. Collectivizing deposit protection – with the associated plethora of access rights – would unnecessarily endanger people's trust in the reliability of the existing deposit protection schemes. This would permanently undermine the stability of the financial markets in Germany.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_Banking_Industry_Committee_European_deposit_protection_is_neither_necessary_nor_helpful</link>
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      <title>Further growth in volume of customer business / Cooperative Financial Network increases net profit after taxes to €7.8 billion</title>
      <pubDate>Wed, 15 Jul 2015 11:01:00 +0100</pubDate>
      <description><![CDATA[The Volksbanken Raiffeisenbanken Cooperative Financial Network with its 1,047 primary banks, its central institutions, and specialized service providers achieved a net profit of €7.8 billion in 2014, almost 14 percent above the solid prior-year figure of €6.9 billion. Before taxes, the Cooperative Financial Network's profit came to €10.7 billion. "The sustained growth in the volume of our customer business underpins our positioning as a strong lender and reliable partner to small and medium-sized enterprises in Germany," stated Uwe Fröhlich, President of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] in Frankfurt. He added that the Cooperative Financial Network intended to deploy all of its business expertise to continue improving its competitiveness.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Further_growth_in_volume_of_customer_business_Cooperative_Financial_Network_increases_net_profit_after_taxes_to_Euro7_8_billion</link>
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      <title>European deposit insurance successfully integrated into protection scheme for cooperative banks</title>
      <pubDate>Wed, 1 Jul 2015 13:36:24 +0100</pubDate>
      <description><![CDATA[The Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin (German Federal Financial Supervisory Authority) officially recognized the newly founded BVR Institutssicherung GmbH (BVR-ISG) as a deposit insurance scheme on June 30, 2015. This final formal act represents the successful conclusion of a comprehensive project that has lasted several months and implements the requirements of both the new EU Deposit Guarantee Schemes Directive (DGSD) and the national deposit insurance legislation that builds on it.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/European_deposit_insurance_successfully_integrated_into_protection_scheme_for_cooperative_banks</link>
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      <title>BVR President Uwe Fröhlich on the proposal for strengthening Economic and Monetary Union</title>
      <pubDate>Mon, 22 Jun 2015 12:50:59 +0100</pubDate>
      <description><![CDATA["We welcome the initiative of the European institutions to put the euro on a permanently stable footing," says Uwe Fröhlich, President of the National Association of German Cooperative Banks (BVR), in response to the report on strengthening Economic and Monetary Union (EMU) published by the five Presidents of the European Commission, European Central Bank, Eurogroup, European Parliament, and European Council. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_President_Uwe_Froehlich_on_the_proposal_for_strengthening_Economic_and_Monetary_Union</link>
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      <title>Customer deposits held with cooperative banks still fully protected / decision taken to amend BVR protection scheme in line with EU directive</title>
      <pubDate>Wed, 6 May 2015 13:22:07 +0100</pubDate>
      <description><![CDATA[The cooperative banks attending the general meeting of members of the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] in Berlin on May 6, 2015 voted unanimously to amend the BVR protection scheme in line with the new EU requirements for deposit protection. "This decisive vote by our member banks underlines the Cooperative Financial Network's unconditional commitment to continue – even under the new European requirements – the bank protection that it has collectively provided for more than 80 years. This protection remains a fundamental part of the cooperative business model. Our customers can continue to place their trust in our solid deposit guarantee scheme," assured BVR president Uwe Fröhlich. Customer deposits held with cooperative banks – such as local cooperative banks, Sparda banks, PSD banks, and church banks – will continue to be fully protected in the future owing to the bank protection provided by the BVR.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Customer_deposits_held_with_cooperative_banks_still_fully_protected_decision_taken_to_amend_BVR_protection_scheme_in_line_with_EU_directive</link>
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      <title>Fitch upgrades the Cooperative Financial Network's credit rating to AA- </title>
      <pubDate>Thu, 26 Mar 2015 09:12:01 +0100</pubDate>
      <description><![CDATA[The credit rating agency FitchRatings raised the Cooperative Financial Network's credit rating to AA- on March 24 this year. This upgrade was based on the fact that the pertinent viability rating improved from a+ to aa- and it was therefore attributable to the Network's strong performance. Consequently, the Cooperative Financial Network is bucking the sectoral trend of deteriorating bank credit ratings. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Fitch_upgrades_the_Cooperative_Financial_Network_s_credit_rating_to_AA</link>
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      <title>Cooperative banks achieve a record-breaking 18 million members; financial performance remains consistently strong / Fröhlich: "We need less capital markets union and more support for institutions funding SMEs"</title>
      <pubDate>Tue, 24 Mar 2015 10:20:00 +0100</pubDate>
      <description><![CDATA[In 2014 the German local cooperative banks (Volksbanken & Raiffeisenbanken), Sparda banks, PSD banks, and other cooperative specialized institutions continued to win market share in their lending and deposit-taking business. The 1,047 local cooperative banks, which had combined total assets of €788 billion, managed to slightly increase their net interest income and their net fee and commission income. With a partial operating profit of €7.3 billion and a net income for the year of €2.3 billion after taxes, the German cooperative banks' financial performance remained consistently strong. One especially encouraging trend was the growth in lending to corporate customers (loans to domestic non-financial companies and self-employed people) which, at 3.7 percent, was stronger than the market as a whole, with the latter contracting by 0.8 percent. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_banks_achieve_a_record_breaking_18_million_members_financial_performance_remains_consistently_strong_Froehlich_We_need_less_capital_markets_union_and_more_support_for_institutions_funding_SMEs</link>
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      <title>BVR publishes new figures for Cooperative Financial Network / Financial assistance mainly benefits local associations and initiatives </title>
      <pubDate>Wed, 8 Oct 2014 12:00:00 +0100</pubDate>
      <description><![CDATA[An increase in its market share and a further rise in membership were accompanied by significant growth in corporate citizenship activities at the Volksbanken Raiffeisenbanken Cooperative Financial Network in 2013. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/BVR_publishes_new_figures_for_Cooperative_Financial_Network_Financial_assistance_mainly_benefits_local_associations_and_initiatives</link>
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      <title>Cooperative Financial Network maintains its profitability and further strengthens its capital base</title>
      <pubDate>Wed, 16 Jul 2014 12:00:00 +0100</pubDate>
      <description><![CDATA[The Volksbanken Raiffeisenbanken Cooperative Financial Network with its 1,078 primary banks, its central institutions, and specialized service providers achieved a net profit after taxes of €6.9 billion in 2013, driven by the success of its customer business. The Cooperative Financial Network thereby sustained the good level of profitability attained in the previous year. Before taxes, net income for the year had actually advanced by 2.6 percent to €9.6 billion. "Our cooperative business model continued to be successful in 2013 despite a fiercely competitive market. We also considerably strengthened our capital base," said Uwe Fröhlich, president of the National Association of German Cooperative Banks (BVR). Referring to the recently completed consultation on the assessment of contributions to the European mechanism for the restructuring and resolution of banks, Fröhlich warned against pooling liability risk in Europe: "The Cooperative Financial Network is not willing to cover the risky transactions of large European banks. Europe's proposal for financing the resolution fund is completely misguided from a regulatory perspective." He added that the Commission needed to urgently correct this error by adjusting the contributions to the fund, i.e. by setting a threshold of €500 million and introducing an appropriately graduated scale of contributions.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_maintains_its_profitability_and_further_strengthens_its_capital_base</link>
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      <title>German cooperative banks boost membership and increase market share while maintaining their earnings performance</title>
      <pubDate>Wed, 12 Mar 2014 15:15:54 +0100</pubDate>
      <description><![CDATA[Last year, the 1,078 German cooperative banks (Volksbanken and Raiffeisenbanken), Sparda banks, PSD banks and other cooperative specialized institutions maintained their strong rate of growth. Their partial operating profit rose to €7.1 billion, a year-on-year rise of 5.2 per cent. Net income before taxes for 2013 amounted to €7.4 billion, equaling the high level achieved the previous year. Overall, the cooperative banks generated net income after taxes of €2.6 billion, thus achieving growth of 15.1 per cent. The cooperative banks' combined total assets grew by 1.7 per cent to €763 billion. Their member base expanded further and is currently 17.7 million as the result of the number of members in cooperative banks rising by 364,000 compared with 2012.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_cooperative_banks_boost_membership_and_increase_market_share_while_maintaining_their_earnings_performance</link>
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      <title>Cooperative Financial Network  reveals sharp jump in earnings and a stronger capital base </title>
      <pubDate>Tue, 9 Jul 2013 15:40:29 +0100</pubDate>
      <description><![CDATA[In 2012, the Volksbanken Raiffeisenbanken Cooperative Financial Network  generated net profit after taxes of €6.9 billion, which was €2.4 billion ahead of its earnings in 2011. A large proportion of the group's earnings resulted from the recovery in the financial markets, but it was also attributable to strong customer business. Having increased its equity from €65 billion to €72 billion, the cooperative financial group is in a strong position and well equipped to deal with the lingering economic uncertainties. The group's solvency ratio of 14.7 percent demonstrates its capacity to assume risk. ]]></description>
      <link>http://www.bvr.de/Press/Press_releases/Cooperative_Financial_Network_reveals_sharp_jump_in_earnings_and_a_stronger_capital_base</link>
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      <title>German cooperative banks remain strong: profit before taxes of €7.4 billion / Tier 1 capital raised to €4.9 billion</title>
      <pubDate>Tue, 12 Mar 2013 15:47:50 +0100</pubDate>
      <description><![CDATA[The 1,101 German cooperative banks (Volksbanken and Raiffeisenbanken, Sparda banks, PSD banks and other cooperative specialized institutions) again achieved substantial year-on-year increases in income in 2012. Booming membership, a buoyant lending business, and a rallying of securities prices resulted in a profit after taxes of €2.2 billion, up by 3.9 percent compared with the previous year. Profit before taxes came to €7.4 billion. At the same time, combined total assets grew by €21 billion to €750 billion. "These are very good results, comparing favorably with the rest of the sector, and are proof positive of our cooperative business model. Our institutions have seized opportunities presented by the market in partnership with their 30 million or so customers," said Uwe Fröhlich, President of the Bundesverband der Deutschen Volksbanken und Raffeisenbanken (BVR) [National Association of German Cooperative Banks]. "Being a member of a cooperative bank has never been as popular as it is now," he added. Almost 350,000 new members joined during the reporting period, bringing the total to 17.3 million.]]></description>
      <link>http://www.bvr.de/Press/Press_releases/German_cooperative_banks_remain_strong_profit_before_taxes_of_Euro7_4_billion_Tier_1_capital_raised_to_Euro4_9_billion</link>
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