Inaugural sessions of EBA and EIOPA

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14 Jan, 2011

Similar to the first decisions of the new European Securities and Markets Authority (ESMA), the new European Banking Authority (EBA) and the new European Insurance and Occupational Pensions Authority (EIOPA) have also held their inaugural sessions and have elected chairmen and vice-chairmen.

The EBA Board of Supervisors selected Andrea Enria as the EBA Chairperson, subject to confirmation by the European Parliament. Mr Enria is currently the head of the Supervisory Regulations and Policies Department at the Bank of Italy. The Board of Supervisors also appointed Thomas Huertas as the EBA Alternate Chairperson. Mr Huertas was Vice-Chairman of the EBA's predecessor CEBS and is currently Banking Sector Director at the UK FSA.

The EIOPA Board of Supervisors has selected Gabriel Bernardino to become the first Chairperson. Mr. Bernardino is currently the Director General of the Directorate for Development and Institutional Relations at the Instituto de Seguros de Portugal (ISP). His nomination is subject to confirmation by the European Parliament. Mr. Bernardino represented EIOPA's predecessor, CEIOPS, as Chairman until December 2010. Additionally, the Board of Supervisors elected Victor Rod, Director of the Commissariat aux Assurances, Luxembourg, to be EIOPA's Alternate Chairperson.

EBA and EIOPA have both also announced a new round of stress tests.

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