Helmut Ettl, Executive Director of the Austrian Financial Market Authority (FMA), has been appointed as the Vice-Chairperson of the European Banking Authority (EBA) for a two and a half year term. Helmut Ettl therefore assumes the position as the deputy to José Manuel Campa, who was appointed EBA Chairperson in 2019. The EBA Chairperson represents EBA externally and prepares and chairs the meetings of the Board of Supervisors, the authority’s most important decision-making body. The Board of Supervisors takes all of EBA’s political decisions, e.g. on the adoption of draft Technical Standards, Guidelines, Opinions and Reports. Ettl has represented Austria as a voting member in this committee in his function as FMA Executive Director since EBA was founded in 2011.
The European Supervisory System
EBA is an independent EU authority, tasked with ensuring an effective and consistent level of regulation and supervision within the European banking sector. Its primary aims exist in maintaining financial stability in the EU as well as safeguarding the integrity, efficiency and the orderly functioning of the banking sector. EBA is independent, but remains accountable towards the European Parliament, the Council of the European Union and the European Commission. It is a component of the European System of Financial Supervision (ESFS), made up of the three supervisory authorities: the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA). In addition, the European Systemic Risk Board (ESRB) as well as the Joint Committee of the European Supervisory Authorities and the numerator also belong to the ESFS.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)676 88 249 516