EBA Annual Report highlights key achievements in 2022

EBA released its Annual Report 2022, summarizing its activities and achievements in 2022 and outlining the key priorities for 2023.
EBA operated in a challenging and uncertain environment in 2022 due to various factors, including the Russian invasion of Ukraine, the COVID-19 pandemic, inflationary pressures, supply chain concerns, interest rate volatility, and fallout from Brexit.
In 2022, EBA focused on implementing the Basel III framework to ensure the resilience of the EU banking sector, promoting financial innovation and digital transformation through initiatives like the DORA and the MiCAR, supporting the transition to a more sustainable economy, and leveraging banking and financial data for evidence-based regulation and risk analysis.
The strategic priorities for 2023 outlined in the report include finalizing the implementation of Basel III in the EU, conducting an enhanced EU-wide stress test, utilizing data to benefit stakeholders, advancing digital finance and fulfilling mandates related to DORA and MiCAR, strengthening efforts to combat money laundering and terrorism financing, and executing the ESG roadmap.
The report emphasizes the importance of a robust regulatory and supervisory framework to support the banking sector’s resilience, the need for responsible innovation in financial technology, and the integration of ESG considerations into the regulatory framework. EBA aims to contribute to a greener and more sustainable economy while managing financial risks associated with ESG factors.
The report also highlights EBA’s focus on enhancing efficiency and effectiveness, empowering employees, promoting research initiatives, creating a greener organization, and strengthening risk management and digitalization efforts.