European Banking Authority (EBA)

The European Banking Authority (EBA) is an independent EU authority based in Paris which works to ensure effective and consistent prudential regulation and supervision across the EU banking sector. Its overall aims are to maintain financial stability in the EU and to safeguard the integrity, efficiency and orderly functioning of the banking sector.

The main task of the EBA is to contribute to the creation of the Single Rulebook in banking which aims to provide a single set of harmonised prudential rules for banks throughout the EU. It also promotes convergence of supervisory practices and assesses risks and vulnerabilities in the EU banking sector, including by carrying out EU-wide stress tests.

The EBA was established on 1 January 2011 as part of the European system of financial supervision (ESFS) and took over all existing responsibilities and tasks of the Committee of European Banking Supervisors.

SEE ALSO:

• Economic governance
• European Supervisory Authorities (ESAs)
• European Banking Authority (summary)
• European Banking Authority (website)
• European Systemic Risk Board (website)
• The European system of financial supervision (European Commission)
• The Single Rulebook (European Banking Authority).