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31 July 2017

Germany submits bid for EBA

Zur deutschen Version

The Federal Republic of Germany is submitting a bid to make Frankfurt the next seat of the European Banking Authority. Frankfurt is the most important financial hub in continental Europe and a key centre of financial market stability. It features a unique concentration of European and national supervisory bodies, international
banks, insurance companies and law firms that few other cities can provide.

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Facts about Frankfurt

EBA

All voices for the EBA application

Right next door to other European financial supervisors

The financial hub of Frankfurt plays a key role as a centre of financial market stability, for the euro area and beyond. Here, the EBA will benefit from having direct proximity to other European financial supervisors including the ECB, the ESRB, the SSM and EIOPA. This will boost the efficiency of day-to-day work and facilitate a rapid response if a crisis occurs. Germany’s financial supervisors – including BaFin, the FMSA and the Deutsche Bundesbank – are also headquartered in Frankfurt.

The financial hub of Frankfurt offers an exceptional network

Frankfurt features an outstanding network of businesses and institutions. 199 banks – including 159 international banks – are located here, together with the Frankfurt Stock Exchange and the Eurex derivatives exchange. The city is also home to renowned universities and research centres as well as international auditing firms, rating agencies, and law offices with financial expertise. Furthermore, the number of financial market participants who want to relocate to Frankfurt or expand their activities there is growing continuously.

Easy access to all EU member states, and a compact city centre

Frankfurt is situated at the geographic heart of Europe. National, continental and global transport routes converge here. Europe’s most efficient international airport is just a 15-minute ride from the city centre, by car or train. Every week, Frankfurt Airport offers 3,000 direct flights within Europe, 250 to North America and 400 to Asia and the Middle East. Frankfurt’s main train station offers daily high-speed train connections to Brussels (travel time 3 hrs. 10 min.), Amsterdam (4 hrs.), Berlin (3 hrs. 40 min.), Paris (3 hrs. 40 min.) and many other destinations. Getting around within the city is easy too: all major institutions can be reached in just minutes on foot or by bicycle, underground or car. Buses and city trains span a metropolitan region that encompasses a population of 5.5 million and that features both lively urban centres and rich cultural landscapes. Car-sharing and ride-sharing programmes round out an efficient, user-friendly transport system.

Outstanding access to highly skilled and educated talent

Today, over 100,000 people in the Frankfurt / Rhine-Main region work in the financial services sector. Firstrate research centres such as the House of Finance at the Goethe University Frankfurt, the Frankfurt School of Finance and Management, the Center for Financial Studies and the International Center for Insurance Regulation provide scientific expertise and offer top-notch education to highly qualified young talent. Within a 45-minute travel radius, over 26,000 students are currently working towards a degree in economics, and over 16,000 students are engaged in the study of law.

The international life starts in early childhood

The Frankfurt region’s educational landscape offers a wide range of international options that span from kindergarten to university. The people who live in the region and the companies that operate here come from all over the world. To meet their educational needs, over 30 schools offer international curricula: these include international schools, tuition-free bilingual state schools, bilingual private schools and European Schools.

A high quality of life, in multiple languages

For centuries, Frankfurt has been one of Europe’s leading cities for international trade fairs and commerce. The city’s residents hail from nearly 200 countries and enjoy a harmonious coexistence. More international corporations have their headquarters here than in any other German region. There is a broad spectrum of international communities, cultural institutions and sports clubs. Everyday communication can easily be conducted in English.

A wealth of culture

The Frankfurt / Rhine-Main region features an abundance of museums, theatres and concert halls that enjoy international renown. Global stars from the world of classical music and jazz perform at Frankfurt’s Alte Oper and at the Rheingau Music Festival. Ensembles from 25 different countries stage high-quality English-language productions at the English Theatre. Over 4,000 paintings from the Middle Ages to the present can be viewed at the Städel, one of Germany’s most distinguished museums. Two major modern art venues – the Schirn Kunsthalle and the Museum für Moderne Kunst – attract large numbers of visitors to Frankfurt.

A meeting place for the world

Frankfurt plays host to over 40 trade fairs every year. Fifteen of these are leaders in their respective industries, including the International Motor Show and the tradition-rich Frankfurt Book Fair. Frankfurt also serves as the venue for a variety of international sporting events such as Ironman Frankfurt, the J.P. Morgan Corporate Challenge (which attracted over 60,000 runners in 2017), the Frankfurt Marathon, and the Festhallen Reitturnier horse show.

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