The European Banking Authority (EBA) has published its first annual report addressed to the European Parliament and Council of the EU on the convergence of supervisory review practices in the EU banking sector. The report covers the findings of an assessment carried out over the past three years and focuses on Supervisory Review and Evaluation process and assessment of risks, supervisory stress testing, on-going review of internal models, and supervisory measures and powers.

In the report, the EBA notes that although differences remain in supervisory methodologies, practices and outcomes, supervisory authorities across the EU have made significant progress towards improving the convergence of their supervisory practices since 2011. However, some differences remain in methodologies, practices and supervisory measures.

View EBA: Ongoing progress on supervisory convergence is vital for the single market, 9 April 2015