Ahmet Bedirhan Arvas 
The European Banking Authority (EBA) has decided to conduct an investigation in collaboration with the European Systemic Risk Board (ESRB) and the Financial Stability Board (FSB) to assess banks’ connections with non-banking financial institutions, including entities related to crypto assets.
José Manuel Campa, President of the European Banking Authority (EBA), stated in an interview with the Financial Times that banks need to understand the entire chain of non-bank entities, including organizations related to crypto assets, in order to determine the situations where banks come together when necessary.
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Campa mentioned that banks have already assessed balance sheet risks, including loans, related to non-banking financial institutions. He pointed out that the sector is uncertain due to the lack of homogeneous data for non-banking entities.
According to the Financial Times, the total value of assets held by non-banking financial institutions is approximately $218 trillion, representing almost half of the world’s financial assets.
In November 2023, the European Banking Authority (EBA) proposed new guidelines for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) in the crypto sector. The EBA presented unified AML/CFT criteria for payment service and crypto asset service providers (CASPs). Additionally, it suggested mandatory measures to enhance the interoperability of CASPs’ protocols, ensuring the seamless and interoperable transmission of information.