Paris bids to host European Banking Authority
European Union – Paris bids to host the European Banking Authority – Communiqué issued by the Ministry of the Economy and Finance
Paris, 2 August 2017
M. Bruno Le Maire, Minister of the Economy and Finance, is pleased to submit Paris’s bid to host the European Banking Authority (EBA). Prompted to relocate following the United Kingdom’s withdrawal from the European Union, the EBA would find in Paris the ideal conditions for relocating, along with its staff.
France, consistent with its commitment to an ambitious European financial oversight system, will do everything in its power to facilitate the setting-up of the EBA, which since its creation has worked to promote financial stability and the convergence of oversight practices within the European Union.
Paris has many strengths which could further the EBA’s development and influence. At the heart of a financial ecosystem of global dimensions, the capital boasts a strong banking presence at the service of a dense, dynamic business infrastructure. It has premises available which are eminently suitable to meet the EBA’s needs, and good air and rail links making it easier for it to carry out its work with all its European and international stakeholders.
Staff and their families will also benefit from the Paris region’s deep international labour market, exceptional provision of foreign language education and incomparable culture and leisure facilities.
The Minister maintains his firm belief that basing the EBA in Paris would guarantee it stability and continuity, enabling it to carry on doing its job under the best possible conditions./.