Special Report No 05/2014: European banking supervision taking shape — EBA and its changing context

Abstract:

A report published by the European Court of Auditors in July 2014 revealed that the European Commission’s reform of banking sector legislation and the creation of the European Banking Authority were important first steps in response to the financial crisis. The European Banking Authority has provided the elements of a new regulatory and supervisory system for the banking sector, taking into account its resources and limited legal powers. However, shortcomings were identified in cross-border banking supervision, the assessment of the resilience of EU banks, and the promotion of consumer protection.

• Primary Source

ESO: Background information: European Banking Authority http://www.europeansources.info/record/website-european-banking-authority-eba/

European Court of Auditors: Press Release: ECA/14/30: European banking supervision taking shape, say EU Auditors http://europa.eu/rapid/press-release_ECA-14-30_en.pdf

EurActiv, 03.07.14: Europe's bank stress tests were unreliable, EU auditors say http://www.euractiv.com/sections/euro-finance/europes-bank-stress-tests-were-unreliable-eu-auditors-say-303257

ECA: Special Report No 05/2014: European banking supervision taking shape — EBA and its changing context http://www.eca.europa.eu/Lists/ECADocuments/SR14_05/SR14_05_EN.pdf

ECA: Press Release, 02.07.14: European banking supervision taking shape, say EU Auditors http://www.eca.europa.eu/Lists/ECADocuments/INSR14_05/INSR14_05_EN.pdf

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