Overseen by the European Parliament.

http://www.esrb.europa.eu/home/html/index.en.html

The European Banking Authority (EBA) acts as a hub and spoke network of EU and national bodies safeguarding public values such as the stability of the financial system, the transparency of markets and financial products and the protection of depositors and investors.

The EBA has some quite broad competences, including preventing regulatory arbitrage, guaranteeing a level playing field, strengthening international supervisory coordination, promoting supervisory convergence and providing advice to the EU institutions in the areas of banking, payments and e-money regulation as well as on issues related to corporate governance, auditing and financial reporting. Headquartered in London its activities include conducting stress tests on European banks to increase transparency in the European financial system by identifying weaknesses in banks' capital structures. The EBA was established on 1 January 2011, upon which date it inherited all of the tasks and responsibilities of the Committee of European Banking Supervisors (CEBS).

European banks.

EBA Founding Texts and Mandates

http://en.wikipedia.org/wiki/European_Banking_Authority