The EBA, or the European Banking Authority, is an agency of the European Union that regulates banking activities within the EU. The EBA was formed in January 2011 and is headquartered in London, U.K. However, the United Kingdomâs plans to leave the EU makes it necessary to relocate the EBA, though it currently remains in London. The main job of the EBA to make European banking more secure and stable by establishing a Single Rulebook for all the banks in the EU. The influence of the EBA on European banking consists of investigations into the incorrect applications of EU law in banking activity; the consultation of financial authorities in emergency situations; advising the European Parliament; and promoting transparent, simple and fair markets for financial services. A bit confusing is that EBA also stands for the Euro Banking Association, which is a trade association founded in 1985 in Paris. The Euro Banking Association is the largest network of payment practitioners and annually gathers banks and financial organizations for a conference called EBAday.
