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ication process will become more formal and anonymous and will probably lose longer;
　　　• the credit sector will lose more and more its “public function” to provide access to finance for a wide range of economic actors, which it has in a number of countries, in order to support and facilitate economic growth; the profitability of lending becomes the main focus of private credit institutions.
　　　All of these developments will make access to finance for SMEs even more difficult and / or will increase the cost of external finance. Business start-ups and SMEs, which want to enter new markets, may especially suffer from shortages regarding finance. A European Code of Conduct between Banks and SMEs would have allowed at least more transparency in the relations between Banks and SMEs and UEAPME regrets that the bank sector was not able to agree on such a commitment.
　　　Towards an encompassing policy approach to improve the access of Crafts, Trades and SMEs to finance
　　　All analyses show that credits and loans will stay the main source of finance for the SME sector in Europe. Access to finance was always a main concern for SMEs, but the recent developments in the finance sector worsen the situation even more. Shortage of finance is already a relevant factor, which hinders economic recovery in Europe. Many SMEs are not able to finance their needs for investment.
　　　Therefore, UEAPME expects the new European Commission and the new European Parliament to strengthen their efforts to improve the framework conditions for SME finance. Europe’s Crafts, Trades and SMEs ask for an encompassing policy approach, which includes not only the conditions for SMEs’ access to lending, but will also strengthen their capacity for internal finance and their access to external risk capital.
　　　From UEAPME’s point of view such an encompassing approach should be based on three guiding principles:
　　　• Risk-sharing between private investors, financial institutes, SMEs and public sector;
　　　• Increase of transparency of SMEs towards their external investors and lenders;
　　　• improving the regulatory environment for SME finance.
　　　Based on these principles and against the background of the changing environment for SME finance, UEAPME proposes policy measures in the following areas:
　　　1. New Capital Requirement Directive: SME friendly implementation of Basel II
　　　Due to intensive lobbying activities, UEAPME, together with other Business Associations in Europe, has achieved some improvements in favour of SMEs regarding the new Basel Agreement on regulatory capital (Basel II). The final agreement from the Basel Committee contains a much more realistic approach toward the real risk situation of SME lending for the finance market and will allow the necessary room for adaptations, which respect the different regional traditions and institutional structures.
　　　However, the new regulatory system will influence the relations between Banks and SMEs and it will depend very much on the way it will be implemented into European law, whether Basel II becomes burdensome for SMEs and if it will reduce access to finance for them.
　　　The new Capital Accord form the Basel Committee gives the financial market authorities and herewith the European Institutions, a lot of flexibility. In about 70 areas they have room to adapt the Acc本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。