The European Banking Authority (EBA) has published its annual report 2017, in which it describes the work undertaken and its achievements in 2017. The report also includes the EBA’s key areas of focus for 2018.
The work undertaken by the EBA and its achievements in 2017 include:
- finalising important components of the Single Rulebook and welcoming the agreement reached on the Basel III framework by the Basel Committee on Banking Supervision;
- contributing to many Capital Markets Union initiatives;
- continuing to strengthen its role as EU data hub for the collection, use and dissemination of banking data by improving transparency and expanding its data infrastructure; and
- 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.
The EBA’s key areas of focus for 2018 include:
- credit risk modelling;
- preparing for the full implementation of Basel III;
- 2018 EU-wide stress test;
- third country equivalence; and
- implementing new rules on payment services.