FACTBOX-What the EU will focus on to create Capital Markets Union

* Propose ways of harmonising different national accounting rules so that corporate information can be compared more easily across borders. * Further develop and improve the pan-European pension product (PEPP) to offer all citizens attractive pension options and make sure that pension savings are invested productively.

EU leaders will give their political support on April 18 to creating a long-delayed European Capital Markets Union (CMU), which they hope will attract private capital and help fund the region transition to a "green" and digital economy. Below are the issues that finances ministers for the 27-nation European Union said in March that the bloc and its institutions will focus on to set up a CMU by 2029:

THE COMMISSION WILL * Assess what is holding back the development of the EU securitisation market, including the prudential treatment of securitisation for banks and insurance companies, and reporting and due diligence requirements.

* Assess how to improve supervision. The aim is to strengthen financial integration, ensure financial stability, simplify processes and reduce compliance costs. * Propose ways of harmonising different national accounting rules so that corporate information can be compared more easily across borders.

* Further develop and improve the pan-European pension product (PEPP) to offer all citizens attractive pension options and make sure that pension savings are invested productively. THE COMMISSION AND SUPERVISORY AUTHORITIES WILL * Assess how to cut the regulatory burden and transaction costs, in particular for smaller market participants. THE COMMISSION AND EU GOVERNMENTS WILL

* Make national corporate insolvency laws more similar, notably in the ranking of claims and insolvency triggers or the rules for financial collateral and settlement. * Harmonise listing requirements across European stock exchanges to cut listing costs and make equity and bond financing more attractive, and examine how to improve access to market information.

* Develop simple and cost-effective cross-border investment and savings products for retail investors. EU GOVERNMENTS WILL * Provide national tax incentives for companies to raise capital through shares rather than debt. The bias now, because of tax breaks, is towards raising funds via loans.

* Support investment in securities by adjusting the way personal income tax systems treat long-term retail investment products and capital gains and losses. * Educate citizens about investment options available on capital markets as an alternative to bank deposits. THE FINANCE INDUSTRY WILL

* Offer easy-to-use and secure digital interfaces for all retail clients to access financial services across the EU.