THE EBA AT A GLANCE
The EBA was established on 1 January 2011 as part of
the European System of Financial Supervision (ESFS).
It took over all existing responsibilities and tasks of
its predecessor, the Committee of European Banking
The European System of Financial
The ESFS is comprised of the three European supervisory
authorities (ESAs): the EBA, the European Securities and
Markets Authority (ESMA), the European Insurance and
Occupational Pensions Authority (EIOPA), as well as the
European Systemic Risk Board (ESRB), the Joint Com-
mittee of the ESAs, the European Central Bank (ECB) and
the Member States’ competent supervisory authorities.
The main purpose of the ESFS is to ensure the efficient
functioning of the single market through a regulatory and
supervisory framework that can be applied evenly in all
28 EU Member States. While supervisory authorities re-
main in charge of supervising individual financial institu-
tions across EU jurisdictions, the three ESAs improve the
functioning of the internal market by providing pan-EU
regulation and harmonising supervisory practices in the
EU. The task of the ESAs is to bring uniform rules and
common supervisory approaches across the bloc.