On 23 September 2009, the Commission adopted proposals for three regulations establishing the European System of Financial Supervision, including the creation of three European Supervisory Authorities (ESAs) to contribute to a consistent application of Union legislation and to the establishment of high-quality common regulatory and supervisory standards and practices. The ESAs comprise the European Supervisory Authority (European Banking Authority) (EBA) established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council ( 4 ) ,), the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (EIOPA) established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council ( 5 ) ,), and the European Supervisory Authority (European Securities and Markets Authority) (ESMA) established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council ( 6 ) .). The ESAs have a crucial role to play in safeguarding the stability of the financial sector. It is therefore essential to ensure continuously that the development of their work is a matter of high political priority and that they are adequately resourced.
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New version applies from 02/07/2014 — introduced by Bank Recovery and Resolution Directive (BRRD).
104 provisions change.
Later versions: 25/06/2015, 16/09/2015, 12/01/2016, 03/01/2017, 01/04/2017, 30/06/2017, 01/01/2019, 17/06/2019, 18/12/2019, 01/01/2020, 18/06/2020, 11/02/2021, 13/02/2021, 28/06/2021, 12/08/2022, 24/12/2024, 17/01/2025.
Recital 3 changes in this version: compare with the current text.