12 June 2023
The European Banking Authority (EBA) today published its Annual Report that sets out the activities and achievements in 2022 and provides an overview of the key priorities for 2023.
In 2022, the EBA operated in a challenging and uncertain environment mainly triggered by the Russian invasion of Ukraine. Other disruptive factors included the lingering effects of the COVID-19 pandemic, the inflationary pressures and increasing supply chain concerns, the interest rate volatility, and the fallout from Brexit.
In 2022, the EBA continued to deliver regulatory products against its work programme with particular attention to:
the full, faithful and timely implementation of the Basel III framework to ensure resilience of the EU banking sector;
financial innovation and digital transformation, specifically the Digital Operational Resilience Act (DORA) and the Markets in Crypto-Assets Regulation (MiCAR) to ensure that the financial sector in the EU is able to stay resilient through a severe operational disruption, and to protect investors and preserve financial stability, while allowing innovation and fostering the attractiveness of the crypto-asset sector;
a sound regulatory and supervisory framework to support the transition towards a more sustainable economy, while ensuring that the banking sector remains resilient;
making the most of banking and financial data to produce an evidence-based rulebook, perform impact assessments and risk analyses, and develop a harmonised and proportionate supervisory reporting system for banks and other financial entities.
The 2022 Annual Report also presents the strategic priorities for 2023, which include finalising the Basel III implementation in the EU, performing an enhanced EU-wide stress test, putting data at the service of stakeholders, working on digital finance and delivering on MiCAR and DORA mandates, enhancing capacity to fight money laundering and the financing of terrorism in the EU, and executing the Environmental, Social and Governance (ESG) roadmap.