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S u m m a r y o f t h e E B A 2 0 1 2 a n n u a l r e p o r t
Executive summary
In the short time since its formation at the
start of 2011, the European Banking Authority
has made a significant contribution towards
strengthening financial markets in Europe
and harmonising the underlying banking
rules. This has been set against the backdrop
of a deterioration of Europe’s sovereign crisis
and consequent market uncertainties, as well
as continued global economic concerns.
As such, one of the key steps the EBA took
during 2012 was to implement a recapitalisa-
tion plan to ensure banks make significant ef-
forts to strengthen their capital position and
protect against future shocks — without dis-
rupting lending into the real economy. This
boosted market confidence by increasing the
transparency of banks’ risk exposures includ-
ing, for the first time, exposure to sovereign
Another key part of ensuring financial stabil-
ity involved the first work being undertaken in
relation to recovery and resolution packages,
or ‘living wills’, to enable banks to fail in an
orderly fashion in the event of a future crisis,
thereby minimising the risk to insured deposit­
ors and preventing a knock-on effect to the
wider financial system.
Throughout the year, the organisation con-
tinued to play an important role in improving
the consistency of supervisory practices and
enhanced cooperation between supervisory
authorities, in particular those authorities re-
sponsible for the supervision of the 40 largest
EU cross-border banks.
The following sections in this executive sum-
mary highlight some of the key activities and
achievements of the EBA over the past year,
focusing on the core themes of regulation,
oversight and consumer protection. The sum-
mary also sets out some of the developments
in the EBA’s operations themselves as it looks
to grow into its enhanced role to fully support
the stability of the banking system, provide
a level playing field, and safeguard both the
transparency of markets and the protection of
depositors and investors.
Toward a new regulatory
In the report year, the EBA further contributed
toward the creation of a sounder and safer
financial system by developing draft regula-
tory standards and guidelines which will pro-
vide clarity to financial institutions needing
to comply with the new Basel III regulatory
In total the EBA produced:
consultation papers;
draft regulatory and implementing tech-
nical standards;
sets of guidelines;