EBA responds to European Commission’s non-adoption of draft amending technical standards on prior permission

The European Banking Authority (EBA) is an independent EU authority responsible for safeguarding the integrity and robustness of the EU banking sector to support financial stability.

To enhance the stability and effectiveness of the European financial system, the EBA develops harmonised rules for financial institutions, promotes convergence of supervisory practices, and monitors the impact of financial innovation and the transition to sustainable finance.

The EBA also monitors and analyses risks and vulnerabilities relevant to the regulation of banks and investment firms. It facilitates information sharing among authorities and institutions through supervisory reporting and data disclosure.

The EBA emphasizes the importance of effective communication with stakeholders through publications, announcements, and participation in external events to report on policies, activities, and initiatives.

Recently, the EBA responded to the European Commission’s decision not to adopt draft amending technical standards related to prior permission.