Top European Union post for Loughborough academic
Loughborough University’s Professor David T Llewellyn has been appointed Chair of the European Banking Authority’s influential Banking Stakeholder Group.
Professor Llewellyn, of the School of Business and Economics, has previously been the Vice Chair of the Banking Stakeholder Group, a consultative and monitoring body of the EBA.
Professor Llewellyn’s appointment comes at a time when Europe, and indeed the world, is in the middle of a banking crisis.
He said: “These are challenging times for bank regulators around the world as responses are needed following one of the most serious banking crises ever.
“The most serious banking crisis ever will be followed by one of the biggest-ever changes in the regulation regime of banks.
“The central task is to not only construct regulation to lower the probability of future bank failures, but to also establish arrangements to lower the cost of those failures that do occur and, most especially, to protect tax-payers”.
The EBA is the European Union agency responsible for the regulation of banks across the EU area.
The Banking Stakeholder Group’s role is to help facilitate consultation with stakeholders in areas relevant to the tasks of the EBA.
The Group is composed of 30 members, drawn from EU member states and representing credit and investment institutions operating in the Union, consumers of banking services, representatives of SMEs (small and medium-sized enterprises), plus six ‘Top Ranking Academics’.
It is consulted on actions concerning regulatory technical standards and their implementation and the guidelines and recommendations made by the EBA.
It also submits opinions and advice to the Authority on any issue related to the tasks of the Authority, focusing in particular on common supervisory culture, peer reviews of competent authorities and assessment of market developments.
The Group also has the power to submit a request to the Authority, as appropriate, to investigate alleged breaches or non-application of European Union law.