EBA欧洲银行-Initial-statement-by-Andrea-Enria-at-ECON17-November-2015_3页_171kb

EBA Chairperson Term Extension Summary

Core Content

The document outlines Andrea Enria's statement regarding the extension of his term as Chairperson of the European Banking Authority (EBA), delivered on 17 November 2015. Enria reflects on the progress made by the EBA in addressing the aftermath of the financial crisis and outlines his vision for the future of the Authority.

Main Points and Progress Achieved

Enria highlights the following key achievements during his tenure:

• Strengthening the European Banking Sector: European banks have significantly improved their capital positions, surpassing their US counterparts.
• Enhanced Transparency: The EBA has increased the disclosure of bank data, with plans to publish the results of a transparency exercise that will make 13,500 data points available for each of the more than 100 banks in the sample.
• Establishment of the Single Rulebook: The EBA has successfully implemented a unified regulatory framework in key areas of prudential supervision and resolution, finalizing numerous standards, guidelines, and Q&As under tight deadlines.
• Resolution of Legal Disputes: The EBA has used breach of union law investigations and mediation to address national decisions that threatened the integrity of the Single Market, successfully restoring home-host cooperation.
• Consumer Protection: There has been notable progress in addressing consumer concerns, particularly through guidelines on responsible mortgage lending and product oversight. The EBA is also actively involved in the second Payment Services Directive (PSD2) and is looking to deepen its policy role in response to financial innovation.

Key Challenges and Future Actions

Enria outlines three main lines of action for the EBA moving forward:

a) Promoting Supervisory Convergence

• Develop new tools such as benchmarking of supervisory outcomes.
• Reshape existing tools like stress testing and examiner training.
• Focus on policy issues such as conduct risk and cyber risk.

b) Strengthening Regulatory Impact Analysis

• Review the impact of regulatory reforms on banking markets.
• Conduct impact assessments that consider the evolving nature of business models and balance sheets.
• Identify unintended consequences and assess the risk of regulatory burden minimisation.
• Address excessive rigidity in the Single Rulebook, particularly when technical details are embedded in Level 1 legislation.
• Ensure the appropriate application of the principle of proportionality.

c) Enhancing Consumer Protection

• Deepen the EBA's policy role in response to financial innovation.
• Focus on the challenges posed by digital banking and ensure that innovation and competition are not hindered.
• Protect end users while supporting the development of new financial services, such as peer-to-peer lending.

Budgetary Constraints

Enria notes that the EBA has faced tight budgetary constraints, which have limited its ability to develop key initiatives such as an ambitious platform for supervisory training. He expresses appreciation for the European Parliament's support but emphasizes the need for more effective solutions to these challenges.

Conclusion

Enria concludes by expressing his commitment to maintaining a strong dialogue with the European Parliament, the Commission, and the Council. He underscores the importance of transparency and accountability for the EBA and hopes to continue this constructive relationship to further the goals of the Banking Union and the Single Market.