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1. This Regulation establishes a European Supervisory Authority (European Banking Authority) (hereinafter ‘the Authority’).
2. The Authority shall act within the powers conferred by this Regulation and within the scope of, Directive 942002/1987/EC, Directive 20022009/87110/EC, Regulation (EC) No 1781/2006, Regulation (EU) No 575/2013 of the European Parliament and of the Council of(), 26Directive June 2013/36/EU onof prudentialthe requirementsEuropean forParliament credit institutions and investmentof firmsthe Council (), Directive 20132014/3649/EU of the European Parliament and of the Council of(), 26Regulation June(EU) 20132015/847 onof access to the activityEuropean ofParliament credit institutions and the prudentialCouncil supervision(), Directive (EU) 2015/2366 of creditthe institutionsEuropean Parliament and investmentof firmsthe Council () and, to the extent that those acts apply to credit and financial institutions and the competent authorities that supervise them, within the relevant parts of Directive 2002/65/EC, and Directive 2005(EU)2015/60/EC,849 Directiveof 2007/64/ECthe European Parliament and Directiveof 2009/110/ECthe Council (), including all directives, regulations, and decisions based on those acts, and of any further legally binding Union act which confers tasks on the Authority. The Authority shall also act in accordance with Council Regulation (EU) No 1024/2013 ().
3. The Authority shall also act in the field of activities of credit institutions, financial conglomerates, investment firms, payment institutions and e-money institutions in relation to issues not directly covered in the acts referred to in paragraph 2, including matters of corporate governance, auditing and financial reporting, provided that such actions by the Authority are necessary to ensure the effective and consistent application of those acts.
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Article 4 Definitions For the purposes of this Regulation the following definitions apply:
(1) ‘financial institutions’ means ‘credit institutions’ as defined in point (1) of Article 4(1) of DirectiveRegulation 2006(EU) No 575/48/EC2013, ‘investment firms’ as defined in point (2) of Article 34(1)(b) of DirectiveRegulation 2006(EU) No 575/49/EC2013, and ‘financial conglomerates’ as defined in Article 2(14) of Directive 2002/87/EC, payment service providers as defined in point (11) of Article 4 of Directive (EU) 2015/2366 and electronic money institutions as defined in point (1) of Article 2 of Directive 2009/110/EC, save that, with regard to Directive 2005(EU) 2015/60/EC849, ‘financial institutions’ means credit institutions and financial institutions as defined in Articlepoints 3(1) and (2) of thatArticle 3 of Directive (EU) 2015/849;
(2) ‘competent authorities’ means:
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