EBA publishes work programme for 2021, with focus on innovation and fighting AML/CFT

The European Banking Authority (EBA) has published its annual work programme for 2021, describing the activities and tasks of the Authority for the coming year and highlighting its key strategic areas of work.

In 2021, the EBA will focus on six strategic areas:

• (i) supporting the deployment of the risk reduction package and the implementation of effective resolution tools;
• (ii) reviewing and upgrading the EU-wide EBA stress testing framework;
• (iii) becoming an integrated EU data hub by leveraging on the enhanced technical capability for performing flexible and comprehensive analyses;
• (iv) contributing to the sound development of financial innovation and operational resilience in the financial sector;
• (v) building the infrastructure in the EU to lead, coordinate and monitor AML/CFT supervision; 
• (vi) providing the policies for factoring in and managing Environmental, Social and Governance (ESG) risks.

Regarding its horizontal streams of work, the EBA will continue working towards (a) establishing a culture of sound and effective governance and good conduct in financial institutions, and particularly focus on (b) addressing the aftermath of COVID-19.