European Banking Authority

The European Banking Authority (EBA) is an independent EU Authority established on 1 January 2011 as part of the European System of Financial Supervision (ESFS).

The ESFS includes three sectoral Authorities (EBA, EIOPA -insurance sector- and ESMA -securities sector-) and the European Systemic Risk Board. The main objective of the ESFS is to ensure that the rules applicable to the financial sector are adequately implemented to preserve financial stability. The ESFS commits to foster confidence in the financial system as a whole and to guarantee a sufficient protection for the customers of financial services.

Within this framework and with a view to improving the functioning of the EU internal market, the EBA will contribute to ensure a high quality, effective and consistent level of regulation and supervision in its areas of competence. It will also promote public values such as the stability of the financial system, the transparency of markets and financial products, and the protection of depositors and investors.

EBA will work to prevent regulatory arbitrage and guarantee a level playing field, strengthen international supervisory coordination, and promote supervisory convergence. It will provide advice to the Union institutions in the areas of banking, payments and e-money regulation and supervision, and related corporate governance, auditing and financial reporting issues.

EBA has taken over all existing and ongoing tasks and responsibilities from the Committee of European Banking Supervisors (CEBS). It has its headquarters in Paris.

Banco de España is the Spanish member of the EBA.