The European Banking Authority (EBA) aims to protect the financial stability, integrity, efficiency and orderly functioning of the banking sector in the EU. European banking authority, is mandated to assess risks and vulnerabilities in the EU banking sector. There are also some EBA regulations.
EBA has many tasks and duties. However, it is its main task to contribute to the creation of the Single European Rulebook in banking by adopting the Binding Technical Standards (BTS) and Guidelines. The Single Rulebook aims to provide factors such as a single set of harmonized prudential rules for financial institutions across the EU and high protection to depositors, investors and consumers. In addition, the EBA is tasked with assessing risks for the EU banking sector through regular risk assessment reports. It has the following responsibilities:
As part of its responsibility, The European Banking Authority works to prevent the European financial system from being used for money laundering and terrorist financing (ML/TF). EBA's studies on this issue are as follows:
The European Banking Authority regulates and monitors the following institutions and other similar institutions in Europe: