Database on German and European Economic Law

 Regulation (EU) No 1022/2013

I. Description

Today, the solidity of the banking sector is in many instances still closely linked to the Member State in which they are established. Doubts about the sustainability of public debt, economic growth prospects, and the viability of credit institutions have been creating negative, mutually reinforcing market trends. This may lead to risks for the viability of some credit institutions as well as for the stability of the financial system, and may impose a heavy burden for already strained public finances of the Member States concerned. The situation poses specific risks within the euro area, where the single currency increases the likelihood that developments in one Member State can create risks for economic development and the stability of the Euro area as a whole. Furthermore, the current risk of financial disintegration along national borders significantly undermines the Single Market for financial services and prevents it from contributing to economic recovery. The establishment of the European Banking Authority ( EBA) by Regulation (EU) No. 1093/2010 of the European Parliament and the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), and of the European System of Financial Supervision ( ESFS) already contributed to improved cooperation between national supervisors and to the development of a single rulebook for financial services in the EU. However, supervision of banks remains to a large extent within national boundaries and thereby fails to keep up with integrated banking markets. Supervisory failings have, since the onset of the banking crisis, significantly eroded confidence in the EU banking sector and contributed to an aggravation of tensions in euro area sovereign debt markets.

II. General Information

Title

Regulation of the European Parliament and of the council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority) as regards the conferral of specific tasks on the European Central Bank pursuant to Council Regulation (EU) No 1024/2013

Abbreviations
EBA Regulation
Status
Existing
Regulation
(EU) No 1022/2013
Source
O.J. EU No L (Legislation), Edition 287, Year 2013, p.5
Adoption
10/22/2013
Promulgation
10/29/2013
Character
Regular Act
Legal Basis
Art. 114 AEUV
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text EBA Regulation:
Regulation of the European Parliament and of the council amending Regulation (EU) No 1093/2010 establishing a European Supervisory Authority (European Banking Authority) as regards the conferral of specific tasks on the European Central Bank pursuant to Council Regulation (EU) No 1024/2013

  (EU) No 1022/2013

Beschluss:
10/22/2013 (A)
Verkuendung:
10/29/2013 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
11/27/2012
Opinion of the European Central Bank
ABL 2013/C 30/6
11/15/2012
Opinion of the European Economic and Social Committee
ABL 2013/C 11/34
09/12/2012
Communication from the Commission
COM(2012) 510 final
Proposal
COM(2012) 512 final

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Regulation (EU) No 1093/2010

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Legal Impact