EU reaches agreement on relocation of two agencies from London

BRUSSELS, Oct 17 (KUNA) -- The European Union's Permanent Representatives Committee approved Wednesday an agreement with the European Parliament on the text of the regulations for the relocation of the European Medicines Agency (EMA) to Amsterdam, and of the European Banking Authority (EBA) to Paris.
The two agencies are currently based in London, in the UK, and need to be relocated in the context of the UK's withdrawal from the EU (Brexit), said an EU statement.
The European Medicines Agency is responsible for the scientific evaluation, supervision and safety monitoring of medicines. It is therefore essential for the functioning of the single market for medicines in the EU.
The European Banking Authority works to ensure effective and consistent prudential regulation and supervision across the European banking sector. Among other tasks, the EBA assesses risks and vulnerabilities in the EU banking sector through regular risk assessment reports and EU-wide stress tests, it added. (end) nk.mt