The European Banking Authority (EBA) published today its 2016 Annual Report, which provides a detailed account of all the work the Authority achieved in the past year and anticipates the key areas of focus in the coming years.
In 2016, the Single Rulebook applicable to the EU banking sector was largely completed and the EBA continued to engage actively at the EU and international levels to support the finalisation of the so-called Basel III package and its implementation in the EU.
2016 was also a period for reflection on the regulatory reforms that immediately followed the financial crisis, to better understand their effects on bank structures, business models and risk-taking, and to minimise complexity where possible. In this respect, the EBA continued to enhance its monitoring of different aspects of the Single Rulebook, including on own funds, remuneration practices and significant risk transfers in securitisations.
In 2016, the EBA continued to improve its role in monitoring and assessing key risks in the banking sector across the EU, thus contributing to ensure its stability, transparency and orderly functioning. The EBA also made significant progress in ensuring consistency of supervisory reviews, evaluations and supervisory measures across Member States.
Finally, the EBA continued enhancing the protection of consumers, promoting transparency, simplicity and fairness for consumer financial products and services across the Single Market, monitoring financial innovation, and contributing to secure and efficient retail payments in the EU.