EP confirms Andrea Enria as the inaugural Chairperson of the EBA

The European Parliament (EP) today confirmed Andrea Enria as the first Chairperson of the European Banking Authority. The confirmation follows an open hearing held at the Economic and Monetary Affairs Committee (ECON) of the European Parliament on 1 February, 2011, where the selected candidates for the position of Chairpersons of the recently established European Supervisory Authorities (ESAs) for banking (EBA), insurance and occupational pensions (EIOPA), and markets (ESMA) respectively, were heard by Members of the European Parliament.

The confirmation by the European Parliament was the final step in the selection procedure coordinated by the European Commission. The latter drew up the final shortlist of candidates from which Andrea Enria was selected as Chairperson by the EBA Board of Supervisors on 12 January, 2011.

In his introductory statement to the ECON, chaired by MEP Sharon Bowles, Andrea Enria underlined the need for the European Banking Authority to move towards a more integrated regulatory and supervisory framework in the Union and to work as a "hub and spoke" European system of supervision with the strong commitment from the National Supervisory Authorities.

Andrea Enria will take up his duties as Chairperson of the EBA on 1 March 2011.