European Banking Authority
Regulation 1093/2010 of the European Union was adopted on November 24, 2010, which established the European Banking Authority (EBA). The EBA acts as a hub and spoke network of EU and national bodies, and is responsible for ensuring the stability of the European financial system through transparency in the markets and the protection of depositors and investors. The EBA is part of the European System of Financial Supervision, a system of new regulatory agencies designed to create a more unified European financial regulatory structure.
The EBA was officially established on January 1, 2011, and took over all existing and ongoing tasks, responsibilities, and powers from the Committee of European Banking Supervisors (CEBS).