07 July 2020
The EBA Banking Stakeholder Group (BSG) held today its first meeting in its new composition. The renewed BSG, the fifth one since the establishment of the European Banking Authority (EBA) in 2011, was agreed by the EBA Board of Supervisors at its meeting on 17 June 2020. The 30 selected members, who started their four-year mandate on 1 July 2020, will provide advice to the EBA on its policy work and must be consulted on technical standards, guidelines and recommendations.
Welcoming the new BSG members, Jose Manuel Campa, Chairperson of the EBA, said: “Thanks to the variety of perspectives and expertise stemming from the diverse and balanced membership, I am confident that this advisory body will provide valuable input to our policy work and I am looking forward to a fruitful cooperation with each of the selected members”.
Following a call for expression of interest launched on 6 March 2020, the EBA carried out a selection process to ensure an adequate balance between EU Member States, represented entities and members' gender. The renewed BSG represents (i) the financial institutions operating in the Union, with 13 members; (ii) consumers, users of banking services, employees’ representatives of financial institutions operating in the Union and representatives of SME’s, with 13 members; (iii) independent top-ranking academics with 4 members.
Following the changes introduced by the ESAs’ Review to the EBA Regulation, Article 37 was amended, with effect on 1 January 2020. The changes, which relate to the composition, length of mandate, and scope of activities of the Stakeholder Groups, required the EBA to re-establish the BSG in a different composition.