The European Banking Authority (EBA) is an independent EU agency that works to ensure the safety and soundness of the European banking sector. Based in Paris, it develops supervisory standards and guidelines for banks across the EU, monitors risks and vulnerabilities in the system, and conducts stress tests to assess the resilience of banks to economic shocks. The EBA also plays a role in promoting convergence of supervisory practices across member states and contributes to the creation of a single rulebook for banking in the EU, aiming to create a level playing field and protect consumers.