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The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in La Défense, Île-de-France.Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying weaknesses in banks' capital structures.
Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
In the banking union (which includes the euro area as well as countries that join on a voluntary basis, lately Bulgaria), the European Central Bank, through its supervisory arm also known as ECB Banking Supervision, is the hub of banking supervision and works jointly with national bank supervisors, often referred to in that context as "national ...
The question of supervising the European banking system arose long before the financial crisis of 2007-2008.Shortly after the creation of the monetary union in 1999, a number of observers and policy-makers warned that the new monetary architecture would be incomplete, and therefore fragile, without at least some coordination of supervisory policies among euro members.
The European System of Central Banks (ESCB) is an institution that comprises the European Central Bank (ECB) and the national central banks (NCBs) of all 27 member states of the European Union (EU). [1]
The Supervisory Board is composed of a Chair, appointed for a non-renewable term of five years; a Vice Chair, chosen from among the members of the ECB's Executive Board; four members directly appointed by the ECB, known as ECB representatives; and representatives of national competent authorities. If the national supervisory authority ...
The European banking union refers to the transfer of responsibility for banking policy from the member state-level to the union-wide level in several EU member states, initiated in 2012 as a response to the 2009 Eurozone crisis.
The European Central Bank (ECB) is the only one among the 7 institutions that is also an international entity with treaty capability in its own right. It is at the centre of the European System of Central Banks which comprises all EU national banks. The bank is governed by a board of national bank governors and a President.