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European Banking Authority to move to Paris

Jaclyn Jaeger | November 21, 2017

The European Banking Association will move to Paris, France, in light of the U.K.'s intention to withdraw from the European Union.

On 20 November 2017, the EU 27 member states selected Paris, France, as the new seat for the European Banking Authority (EBA) in the margins of the General Affairs Council (Art. 50). Eight countries—Austria, Belgium, the Czech Republic, France, Germany, Ireland, Luxembourg, and Poland—had submitted bids to host the EBA.

The EBA works to ensure effective and consistent prudential regulation and supervision across the European banking sector. Among other tasks, the EBA assesses risks and vulnerabilities in the EU banking sector through regular risk assessment reports and EU-wide stress tests.

In a statement,...

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