Safeguarding financial stability in Europe
The European Systemic Risk Board (ESRB) is an independent EU body responsible for the macro-prudential oversight of the financial system within the Union. Its seat is in Frankfurt am Main. Its secretariat is ensured by the ECB.
The ESRB contributes to the prevention or mitigation of systemic risks to financial stability in the Union that arise from developments within the financial system. It takes into account macroeconomic developments, so as to avoid periods of widespread financial distress.
The ESRB also contributes to the smooth functioning of the internal market and thereby ensures a sustainable contribution of the financial sector to economic growth.
Recommendation on funding of banks in US dollar
The ESRB recommends that national supervisory authorities closely monitor funding and liquidity risks in US dollar and ensure banks set contingency plans for handling US dollar funding shocks.
Recommendation on macro-prudential mandates for national authorities
The ESRB recommends that EU Member States designate independent and accountable macro-prudential authorities that will contribute to safeguarding the stability of the financial system as a whole.
Upcoming events
- 22 March 2012
- 6th General Board Meeting.
Past events
- 16 January 2012
- Hearing before the Committee on Economic and Monetary Affairs of the European Parliament. Introductory statement by Mario Draghi
