European Banking Authority (EBA)
An EU-wide regulatory body which works to ensure effective and consistent prudential regulation and supervision across the European banking sector.
Its overall objectives are to maintain financial stability in the European Union 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 European Single Rulebook in banking whose objective is to provide a single set of harmonised prudential rules for financial institutions throughout the EU. The Authority also plays an important role in promoting convergence of supervisory practices and is mandated to assess risks and vulnerabilities in the EU banking sector.
The EBA is a part of the European System of Financial Supervision (ESFS) and is one of the three European supervisory authorities (ESAs):
- The European Banking Authority (EBA)
- The European Securities and Markets Authority (ESMA)
- The European Insurance and Occupational Pensions Authority (EIOPA)
See more on EBAs website: eba.europa.eu.