This Regulation establishes the European Banking Authority, tasked with ensuring the stability and effectiveness of the financial system across the Union. Acting within the framework of several key directives and regulations, the Authority focuses on sectors like credit institutions and payment service providers, addressing areas not explicitly covered in existing legislation, such as corporate governance and environmental factors.

The Authority aims to protect the public interest by enhancing market integrity, promoting supervisory convergence, and ensuring robust consumer protection. Its operations will adhere to principles of independence, accountability, and proportionality, ensuring fair treatment for all stakeholders.