Brussels candidate to host the European Banking Authority
Belgium is honoured to announce today that it is launching a bid to host the European Banking Authority, currently located in London.
Brussels, strategically located in the centre of Europe, is one of the most accessible capitals on the continent. Travel to the other European financial hubs takes less than two hours. Furthermore, Brussels offers the high-quality office space and the well-connected buildings the European Banking Authority requires.
Moreover, Belgium’s strong financial sector, its quality of life, the opportunities it offers to employees and their families and the outstanding building it proposes make it the perfect new home for the European Banking Authority. In particular, the ample availability of international schools, the affordable and diverse real estate market and rich cultural life appeal to the large expat community in Brussels. In addition, Belgium consistently scores high in digital connectivity, innovation, health, education and technological readiness.
A highly-diversified Belgian banking sector includes top-notch market infrastructure companies, large European banks, typical savings banks and many host banks. The presence of the European Banking Federation is also a plus. Moreover, Brussels hosts several global financial players in market infrastructure, such as Euroclear, Bank of New York Mellon and Swift, as well as the European head office of MasterCard. Their presence has allowed the Belgian financial sector to develop a long-standing experience in guaranteeing proper functioning of financial markets.
The European Banking Authority’s mission of regulating and supervising banking across the EU is crucial for the stability of European markets. That is why Belgium is guaranteeing that the continuity of the European Banking Authority’s activities can be maintained throughout and immediately after the transition period.
The European Banking Authority (EBA) is a decentralized EU Agency 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.
Belgium can offer a smooth, quick and cost-efficient transition of the European Banking Authority’s operations to Brussels. The Belgian capital is already home to the most important European institutions, unlocking countless synergies between the European Banking Authority and its European partner organisations.