With effect from January 2011 the European Banking Authority (EBA) was founded as an independent EU authority by means of Regulation (EU) No. 1093/2010 of the European Parliament and the Council as the successor organisation to the CEBS (being accountable to the European Parliament, the Council of the European Union and the European Commission) and is part of the European System of Financial Supervision (ESFS). Its task is to ensure an effective and consistent level of regulation and supervision within the European banking sector. In addition to drawing up Technical Standards and Guidelines in order to establish an European Framework for the Financial Sector, the EBA also plays a decisive role with regard to the promotion of harmonisation of supervisory practices.
German: Europäische Bankenaufsichtsbehörde (EBA) (318)
Source: FMA AT m. e. E., 30.10.2018
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