European Banking Authority

European Banking Authority

An agency responsible for banking regulation in the European Union. Among other responsibilities, it conducts stress tests of troubled banks and sets standards for bank reporting in the EU. It also has the power to veto decisions made by national regulators of member states. It was established in 2011 and is based in London.
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In a letter to European Banking Authority chairperson, Andrea Enria, the MEPs accused the bank of handling 'illicit financial flows' and being associated with influential people in Malta.
The SRB works closely with the European Commission (EC), the European Central Bank (ECB), the European Banking Authority (EBA) and national competent authorities (NCAs).
The European Medicines Agency will move to Amsterdam, while the European Banking Authority is set to relocate to Paris.
The two EU agencies currently based in London, the European Medicines Agency and the European Banking Authority, need to be relocated in the context of the UK's withdrawal from the EU.
As one newspaper put it: "The beauty contest among European cities to claim London's two prized EU agencies is stepping up a gear, with 23 countries submitting applications to host the European Medicines Agency or European Banking Authority.
The head of the European Banking Authority has said that the European Union should create a "bad bank" to buy bad loans that are holding back further lending and economic growth, the Financial Times reported on Monday.
Commerzbank was one of the 12 weakest banks among the 51 tested by the European Banking Authority.
European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.
A total of 124 banks in 22 member states will be put through stress tests in 2014 organised by the European Banking Authority (EBA).
Germany had the secondhighest number of top earners, on 212, the European Banking Authority found.
The European Banking Authority has been called upon by the ECB to develop standards which would help policymakers in Frankfurt and Brussels spot risks in eurozone banks.
Summary: Eight out of 90 banks across Europe have failed stress tests, the European Banking Authority has said, a slight increase on seven last year.

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