European Banking Supervision Taking Shape

Download or read book European Banking Supervision Taking Shape written by and published by . This book was released on 2014 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the aftermath of the financial crisis, the Commission took steps to stabilise the banking sector by seeking to strengthen the regulatory and supervisory framework, and by setting up the European Banking Authority (EBA). The Court's first audit in this area assessed whether the Commission and EBA had satisfactorily carried out their responsibilities in setting up the new arrangements for the regulation and supervision of the banking sector and considered what lessons could be learned for banking supervision under the new Single Supervisory Mechanism. The Court concluded that the Commission's actions, including the creation of EBA, were important first steps in response to the financial crisis. However, there were some shortcomings identified in the functioning of new arrangements in respect of cross-border banking supervision, the assessment of the resilience of EU banks and promotion of consumer protection for which the Court makes recommendations."-- Page [4] of cover.