European Banking Authority


Also found in: Acronyms.

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.
References in periodicals archive ?
The European Banking Authority has a crucial role to play in that regard.
Calls from the European Banking Authority came briefly after <a href="http://www.novinite.com/articles/164216/Conservators+at+Bulgaria%E2%80%99s+Corpbank+Submit+Audit+Report">a long-expected audit report was submitted at the BNB of conservators at KTB and Victoria.The document was prepared by AFA, Deloitte Audit and Ernst&Young.Interim Finance Minister Rumen Porozhanov <a href="http://www.novinite.com/articles/164104/Payment+Of+Guaranteed+Deposits+In+KTB+To+Begin+In+November">announced earlier in October payment guaranteed deposits would begin in November after a final decision is taken on its future.
The European Central Bank (ECB) reported, on 3 February, on its progress so far in its ongoing comprehensive assessment, and confirmed that it will apply the parameters for the bank stress tests set by the European Banking Authority (EBA).
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.
It will be coordinated and overseen by a Steering Committee, which is made up of representatives of the Cypriot authorities and the international organisations involved in the financial assistance programme for Cyprus, namely the European Commission, the European Central Bank, the European Financial Stability Facility / European Stability Mechanism, the International Monetary Fund and the European Banking Authority.
The Cabinet's draft also allows BNB to refer to the European banking authority cases when it does not receive assistance or does not achieve consensus with other competent authorities in the supervision of banking groups and financial holdings that operate in several member states.
Then follows the news that eight banks have failed the European Banking Authority's "stress test" - although given Europe's track record on counting, that number may be adjusted to 358.
The results, carried out on 91 banks that represent 65 per cent of the Europe's bank sector, will be published on July 15, the London-based European Banking Authority said in a statement.
Summary: LONDON/ROME - Eight European banks have failed a test of their ability to withstand a prolonged recession which did not build in the impact of a Greek default, the European Banking Authority said on Friday.
Adam Farkas of Hungary was named as head of the European Banking Authority.
The European Banking Authority (EBA) has warned that the extent of dirty money in Europe cannot be countered only with newly-provided powers.

Full browser ?