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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).
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.
The regulations will now be submitted to the European Parliament for a vote at first reading and to the Council for final adoption.
The Council is committed to ensuring that both legislative proposals are processed as quickly as possible given the urgency of the matter.