The EBA Publishes 2024 Report Of Its Key Achievements And Activities

The European Banking Authority (EBA) today published the first part of its 2024 Annual Report presenting the main achievements and activities of the organisation in fulfilling its mandates under its Work Programme over the past year.  

The year 2024 proved to be a milestone year, with the Agency delivering on over 93% of the tasks under its remit. On the regulatory front, the EBA made significant progress in the implementation of the Basel III reforms within the EU, aiming to ensure banks’ resilience in future crises and strengthen the financial system.  

The EBA focused on enhancing the Single Rulebook by issuing guidelines and technical standards on key banking topics, such as credit, market and operational risk. The EBA also contributed to the European Green Deal by advancing sustainable finance integration, issuing guidelines and reports on ESG risks, greenwashing, and scenario analysis, reflecting its commitment to embedding environmental and social considerations into prudential frameworks. 

In 2024, the EBA focused on monitoring financial stability amidst high interest rates, slow growth, and geopolitical uncertainty, with a particular emphasis on the impact on the banking sector. These assessments are included in two issues of its Risk Assessment Report, one published in spring and the other one autumn. The latter was accompanied by the publication of the results of the EU-wide transparency exercise. 

Other achievements throughout the year included the update of the stress-testing methodology, incorporating new elements like net fee and commission income projections and market risk sensitivity. 

The Authority also conducted a one-off climate risk stress test to assess the resilience of the financial sector under scenarios of the Fit-for-55 package, showing limited impact from transition risks but potential disruption when combined with macroeconomic factors. 

Background  

By end-June, the EBA will publish a consolidated version of the Annual Report that will provide a comprehensive account of the activities carried out by the EBA in the implementation of its mandate and work programme during 2024.  

Part 1, published today, provides an overview of the annual key achievements, while Parts 2-5, will include comprehensive information on the implementation of the EBA’s work programme, budget, staff policy plan, its management and internal control systems.