We are very honored to announce that Prof. Rym Ayadi, Founder and President of the Euro-Mediterranean Economists Association – EMEA and Professor at The Bayes Business School, has been re-elected for the 4rth year as Chair of the Banking Stakeholders Group (BSG) of the European Banking Authority (EBA), at the BSG meeting in Paris.
Prof. Ayadi is one of the four independent top-ranking academics among the 30 selected members who form the Banking Stakeholders Group (BSG).
Prof. Ayadi thanked her BSG colleagues for their trust and highlighted that she looks forward to work with all BSG members on key themes on the regulatory banking framework in Europe in a context on heightened uncertainty and challenging macro-economics and geopolitical conditions. She added that “It is indeed a great responsibility to all of us to produce balanced advice on the banking regulatory framework Basel III, financing sustainable transition and green economy, recovery and resolution, digital finance, consumer protection, AML/CF, proportionality etc. to ensure a stable and sound financial system that can withstand future shocks.”
The new BSG started its four-year mandate on 1 July 2020, aiming to provide advice to the EBA on its policy work and is consulted on technical standards, guidelines and recommendations for banking regulation. The BSG is formally qualified as the EBA’s stakeholder group in Article 37 and Recital 48 of the EBA’s Founding Regulation which also describe it as a group of interested parties due to the variety of perspectives and expertise that its diverse membership brings to the Authority’s work on regulatory or implementing technical standards, guidelines and recommendations. As such, it can be considered as the major EBA’s Advisory Group.
The EBA’s Banking Stakeholder Group (BSG) is composed of 30 members appointed by EBA’s Board of Supervisors, following an open and transparent selection procedure and taking into account geographical and gender balance. The BSG members represent, in balanced proportions, financial institutions operating in the Union, their employees’ representatives, consumers, users of banking services, representatives of small and medium-sized enterprises (SMEs) and independent top-ranking academics. The Group’s role is to help facilitate consultation with stakeholders in areas relevant to the tasks of the EBA. In particular, the Group shall be consulted on actions concerning regulatory technical standards and implementing technical standards and, guidelines and recommendations, to the extent that these do not concern individual financial institutions. The Group may also submit opinions and advice to the Authority on any issue related to the tasks of the Authority, with particular focus on common supervisory culture, peer reviews of competent authorities and assessment of market developments. The Group may also submit a request to the Authority, as appropriate, to investigate the alleged breach or non-application of Union law.
The European Banking Authority (EBA) is an independent EU Authority which works to ensure effective and consistent prudential regulation and supervision across the European banking sector. Its overall objectives are to maintain financial stability in the EU and to safeguard the integrity, efficiency and orderly functioning of the banking sector.