The European Banking Authority (EBA) announced on 30 March 2026 that François-Louis Michaud will take up his position as Chair of the Authority as from 16 April 2026, following formal appointment by the Council of the European Union. Michaud, who has served as EBA Executive Director since 1 September 2020, replaces the outgoing Chair and will lead the agency at a time when the EU is pursuing deeper financial integration through initiatives such as the Savings and Investments Union (SIU).
Appointment Process and Background The Council appointed Michaud on 26 February 2026, after a selection process that included a shortlist provided by the EBA’s Board of Supervisors and interviews with candidates in January 2026. The European Parliament confirmed his appointment at its Plenary session on 10 March 2026. Michaud’s term runs for five years and may be extended once. The EBA will shortly launch the recruitment of the next Executive Director.
Michaud’s Vision and Priorities Speaking upon his appointment, Michaud stated: “It is an honour to take up the role of Chairperson of the EBA, and a responsibility to take it at this important juncture for the European financial system and for the EBA. I am committed to ensuring that the EBA continues to deliver effective and consistent regulation and supervision across the EU and supports a resilient, efficient and competitive Single Market.” He added that he looks forward to building on the strong foundations laid by his predecessors and working closely with all EBA stakeholders.
EBA’s Role in EU Financial Integration The appointment comes amid a broader push by the European Commission to deepen capital market integration. Over the past weeks, Commissioner Maria Luís Albuquerque has delivered a series of speeches outlining the Savings and Investments Union (SIU), a flagship initiative to boost EU competitiveness by harmonising financial rules, improving financial literacy, and creating a seamless capital market. The EBA, as a key EU authority responsible for banking regulation and supervisory convergence, will play a central role in implementing the SIU’s regulatory aspects, including the Market Integration and Supervision Package.
Institutional Reactions Helmut Ettl, Vice Chair of the EBA, welcomed the appointment: “As the Vice Chair of the EBA, I warmly congratulate François-Louis on his appointment as Chairperson after a very selective process. His extensive experience in banking supervision and regulation and financial stability, gained across international, European and national institutions in four different countries, together with his leadership, will serve the Authority well. He takes up this role at a particularly important time for the European financial system, and I wish him every success in his new role.”
Impact on Stakeholders The change in leadership is expected to have a moderate impact on EU regulatory bodies and national authorities, as Michaud’s familiarity with the EBA’s operations ensures continuity. EU banks and investment firms may benefit from a stable regulatory environment, but could face increased scrutiny as the SIU pushes for harmonised supervision. EU consumers and taxpayers stand to gain from a more resilient banking sector, though the costs of regulatory compliance may be passed on to customers. The appointment signals a commitment to maintaining the EBA’s role in safeguarding financial stability while supporting the Commission’s pro-growth agenda.
Expected Institutional Follow-Up The EBA will now proceed with the recruitment of a new Executive Director. Under Michaud’s leadership, the Authority is expected to continue its work on implementing Basel III, enhancing supervisory convergence, and supporting the digital and sustainable finance transitions, all of which are key components of the SIU strategy.
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