The EBA Presents its Main Achievement in 2023

The EBA Presents its Main Achievement in 2023

By Prathamesh 13 May, 2024

The European Banking Authority (EBA) published the first part of its 2023 Annual Report presenting the main achievements and activities of the organisation in fulfilling its mandates under its Work Programme over the last 12 months.

The year 2023 was an eventful and productive year, with the Agency delivering on over 95% of the tasks under its remit. These achievements came despite several macroeconomic and geopolitical developments and challenges, such as the impact of the US banking turmoil on the European Union , the ongoing war in Ukraine, and the resulting high inflation and interest rates.

On the regulatory front, the EBA continued its work aimed at strengthening the EU financial sector, in particular by finalising the implementation of the Basel III framework in the EU, implementing the ESG roadmap, and delivering on its digital finance mandates under the Markets in Crypto-Assets Regulation (MiCAR) and the Digital Operational Resilience Act (DORA).

In 2023, the EBA performed an enhanced EU-wide stress test and further rolled out its data strategy, aiming to improve the way regulatory data is acquired, compiled, used and disseminated to relevant stakeholders.

In 2023, the EBA continued to lead, coordinate and monitor the EU financial sector’s fight against money laundering/terrorist financing (ML/TF) and enhanced its capacity in this area.

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