The EBA’s Banking Stakeholder Group is composed of 30 members appointed to represent in balanced proportions credit and investment institutions operating in the Union, their employees’ representatives as well as consumers, users of financial services, academics and representatives of SMEs. The Group’s role is to help facilitate consultation with stakeholders in areas relevant to the tasks of the EBA.
In particular, the Group shall be consulted on actions concerning regulatory technical standards and implementing technical standards and, guidelines and recommendations, to the extent that these do not concern individual financial institutions. The Group may also submit opinions and advice to the Authority on any issue related to the tasks of the Authority, with particular focus on common supervisory culture, peer reviews of competent authorities and assessment of market developments.
The Group may also submit a request to the Authority, as appropriate, to investigate the alleged breach or non-application of Union law.
The BSG is formally qualified as the EBA’s stakeholder group in Article 37 and Recital 48 of the EBA’s Founding Regulation which also describe it as a group of interested parties due to the variety of perspectives and expertise that its diverse membership brings to the Authority’s work on regulatory or implementing technical standards, guidelines and recommendations. As such, it can be considered as the major EBA’s advisory group.