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Pedro Duarte Neves, Vice-Governor of Banco de Portugal, elected alternate Chairperson of the European Banking Authority

 

The Vice-Governor of Banco de Portugal, Pedro Duarte Neves, has been re-appointed for a second mandate as alternate Chairperson of the European Banking Authority (EBA), according to an EBA press release.

The appointment of Pedro Duarte Neves, on 8 December, was decided by the representatives of the 28 national supervisory authorities who are members of the EBA Board of Supervisors, the main decision-making body of the Authority. Pedro Duarte Neves was first appointed as the EBA’s alternate Chairperson on 1 July 2013.

The Board of Supervisors is also composed of observers from the European Commission, the European Systemic Risk Board (ESRB), the European Central Bank (ECB), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pension Authority (EIOPA).

The European Banking Authority is chaired by Andrea Enria.

About the EBA

 
The European Banking Authority (EBA) was established in 2011 and is an independent EU Authority which works to ensure effective and consistent regulation and supervision across the European banking sector. Its overall objectives are to safeguard the integrity, efficiency and orderly functioning of the banking sector and internal market.

The main task of the EBA is to contribute to the creation of the European Single Rulebook in banking whose objective is to provide a single set of prudential rules for financial institutions throughout the EU. The Authority also plays an important role in promoting convergence of supervisory practices and is mandated to identify risks and vulnerabilities in the EU banking sector.

The EBA is part of the European System of Financial Supervision (ESFS), which is also composed of the other two European supervisory authorities: the European Securities and Markets Authorities (ESMA), and the European Insurance and Occupational Pensions Authority (EIOPA). The system also comprises the European Systemic Risk Board (ESRB) as well as the Joint Committee of the European Supervisory Authorities and the national supervisory authorities.

The EBA is independent, but answers to the European Parliament, the Council of the European Union and the European Commission.

Lisbon, 11 December 2015