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E U R O P E A N B A N K I N G A U T H O R I T Y
8
Interview with the
Executive Director
The EBA has been up and running for more than 2 years now. Could
you give an assessment of its expansion, outlining, in particular, the
major operational challenges faced by the Authority?
In its second year of activity, the EBA nearly doubled its headcount, thus
a key challenge was to expand its facilities and to revise its organisa-
tional structure to cater for this growth. Middle management layers
were established around the core areas of the three main departments:
Regulation, Oversight and Operations; and a new Head of the Consumer
Protection Unit was appointed. We have now reached a certain stability
in our organisational structure and this will allow us to accommodate
the expected future growth in the next 2 to 3 years.
We had to achieve all the operational targets in the context of an on­
going financial crisis in Europe and in times of serious economic uncer-
tainty and also while discussions on major legislative proposals were
taking place, all putting strong pressure on the current resources of
the Authority.
One of the major operational developments was the approval of a new
IT strategy. We are now in the process of implementing it and, when
accomplished, this strategy will create a robust IT environment cap­
able of providing the analytical tools that are crucial for performing our
risk-quantitative and impact analyses and for supporting our disclosure
activities.
What do you think will be the impact of the forthcoming Single Super-
visory Mechanism on the day-to-day management and operations of
the Authority?
The EBA has been consistently arguing for the establishment of the
Single Supervisory Mechanism (SSM) and has always been a strong
supporter of this decision which we hope will ultimately contribute to
the stability of the European financial sector as a whole. However, the
creation of the SSM won’t go without an impact on the daily operations
of the EBA. A large single supervisor within the EU will call for en-
hanced operational relationships in all the fields and with all the parties
involved. As to the specific impacts on the EBA, there will be changes
to our voting modalities. On the EBA’s work on colleges of supervisors,
there will be a shift of focus towards those colleges with significant op-
erations in the SSM as well as outside the SSM. On the mediation front,
the role of the EBA will be strengthened and we need to be prepared
to take up this function. We will keep on doing our ad hoc and regular
risk analyses but it’s clear that a stronger coordination with the ECB
is indeed needed also at operational level. We are not expecting any
changes in the area of consumer protection.
Adam Farkas