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European Banking Authority

European Banking Authority
Agency overview
Formed 1 January 2011 (2011-01-01)
Preceding Agency Committee of European Banking Supervisors (CEBS)
Jurisdiction European Union
Headquarters Tower 42 (level 18), 25 Old Broad Street, London EC2N 1HQ, United Kingdom
Agency executives Andrea Enria, Chairperson
Adam Farkas, Executive Director
Key document Regulation (EU) No 1093/2010
Website .eu.europa.ebawww

The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in London, United Kingdom. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures.[1] The EBA was established on 1 January 2011, upon which date it inherited all of the tasks and responsibilities of the Committee of European Banking Supervisors (CEBS).

Contents

  • Overview 1
  • Common Reporting Framework 2
  • See also 3
  • Notes 4
  • External links 5

Overview

The EBA has the power to overrule national regulators if they fail to properly regulate their banks. The EBA is able to prevent regulatory arbitrage and should allow banks to compete fairly throughout the EU. The EBA will prevent a race to the bottom because banks established in jurisdictions with less regulation will no longer be at a competitive advantage compared to banks based in jurisdictions with more regulations as all banks will henceforth have to comply with the higher pan European standard.

Common Reporting Framework

Common Reporting (COREP) is the standardized reporting framework issued by the EBA for the Capital Requirements Directive reporting. It covers

  • European Banking Authority, official website
  • Regulation (EU) No 1093/2010
  • Larosière report
  • EuroFiling initiative: XBRL taxonomies for COREP and FINREP regulatory frameworks

External links

  1. ^ "New European Banking Regulator Will Conduct a Stress Test on Lenders". New York Times. 2011-01-13. Retrieved 2011-02-01. 
  2. ^ "Common Reporting Framework (COREP)". Moody's Analytics. 2011-07-01. 

Notes

See also

[2]

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