Paris pitches to be home of European Banking Authority
Supported by President Macron, the French government, the city mayor and regional presidents, Paris’s bid aims to show it is the ideal home of the EBA
The European Banking Authority (EBA) is an independent EU authority 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.
As the United Kingdom prepares to leave the European Union, the authority must find a new home, working closely with financial sector stakeholders and attracting the best people and their families.
The French government and regional authorities are making the case for Paris; a leading financial centre (number 1 stock market in Eurozone) with strong ties to other European capital cities and financial hubs.
"Paris is the ideal base to interact with financial sector stakeholders across the continent," says French President Emmanuel Macron.
"The city is also known for its quality of life, with a vibrant, outward-looking job market and world-renowned educational provision."
The French government is determined to make this move as straightforward as possible for the EBA, pledging to finalise a headquarters agreement before the UK’s departure date and offering €1.5 million towards lease and fit-out costs for the authority’s new premises.
The government will also work with local authorities in the Paris region to ease the EBA and its staff through the process of moving to France.