The European Banking Authority published the first part of its 2024 Annual Report, summarising key achievements and activities delivered under its Work Programme. The report indicates the agency completed over 93% of tasks under its remit and sets out progress on EU implementation of Basel III reforms and related supervisory and regulatory work. During 2024, work to enhance the Single Rulebook included guidelines and technical standards covering credit risk, market risk and operational risk. Sustainable finance initiatives included guidelines and reports on ESG risks, greenwashing and scenario analysis. Financial stability monitoring featured in spring and autumn editions of the Risk Assessment Report, with the autumn issue accompanied by results from the EU-wide transparency exercise. Methodological updates to stress testing introduced new elements such as net fee and commission income projections and market risk sensitivity, and a one-off climate risk stress test using Fit-for-55 scenarios found limited transition risk impacts in isolation but potential disruption when combined with macroeconomic factors. A consolidated version of the Annual Report is due by end-June, with Parts 2 to 5 covering implementation of the work programme, budget, staff policy plan, and management and internal control systems.
European Banking Authority 2025-05-20
European Banking Authority publishes 2024 Annual Report Part 1 highlighting 93% task delivery and Basel III implementation progress
The European Banking Authority's 2024 Annual Report highlights completing over 93% of tasks in its Work Programme and progress on EU Basel III reforms. Key initiatives included guidelines on credit, market, operational, and ESG risks, and financial stability monitoring. Methodological updates to stress testing introduced new elements, including climate risk scenarios, revealing limited transition risk impacts when isolated.