European Banking Authority (EBA)

The European Banking Authority (EBA, external link), headquartered in Paris, was established by Regulation (EU) No 1093/2010 (external link) of the European Parliament and of the Council of 24 November 2010 and commenced its operations on 1 January 2011.

The main objectives of the EBA include maintaining financial stability in the EU and ensuring the integrity, efficiency and proper functioning of the financial market by ensuring adequate, effective and harmonised European supervision and regulation. Its primary task is to contribute to the creation of a single European rulebook in the banking sector by adopting binding technical standards and general guidelines. The aim of the single rulebook is to provide a single set of harmonised prudential rules for financial institutions across the EU, help create a level playing field and provide a high degree of protection for depositors, investors and consumers. The EBA also plays a significant role in promoting the convergence of supervisory practices to ensure a harmonised application of prudential rules. It is also empowered to assess risks and vulnerabilities in the EU banking sector, primarily through regular risk assessment reports and EU-wide stress tests.

Membership in the EBA is mandatory for supervisory authorities of EU Member States. The CNB appoints a member to the EBA Board of Supervisors and is actively represented in the EBA’s standing committees, working groups, task forces and networks.