European Systemic Risk Board

ACCOUNTABILITY

Hearing at the European Parliament

ESRB Vice-Chair Stefan Ingves spoke before the European Parliament’s Committee on Economic and Monetary Affairs and answered questions from its members.
- Statement

Measures taken in response to coronavirus (COVID-19) pandemic

In focus
Press releases & Speeches1
Reports & Research
ESRB Policy
National Policy

12 May 2022 PRESS RELEASE

Advisory Scientific Committee seeks members

We are looking for international experts in macroprudential policy and systemic risk to become members of our Advisory Scientific Committee (ASC). Applications are open until Friday, 24 June 2022.

Press release

31 March 2022 PUBLICATION

Concept Note on macroprudential policy

We have published our Concept Note, which highlights the ESRB’s vision for a proactive, flexible and consistent macroprudential policy for banks over the next decade.

Concept Note

16/05/2022: Stefan Ingves: Speech by Governor Stefan Ingves, ESRB hearing
English
12/05/2022: Call for expressions of interest for the appointment of members to the ESRB’s Advisory Scientific Committee
English
31/03/2022: The General Board of the European Systemic Risk Board held its 45th regular meeting on 24 March 2022
English
11/02/2022: ESRB issues new warnings and recommendations on medium-term residential real estate vulnerabilities
English
27/01/2022: ESRB recommends establishing a systemic cyber incident coordination framework
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All press releases

01/04/2022: The economics of debt relief during a pandemic: lessons from the experience in Ireland
English
31/03/2022: Review of the EU Macroprudential Framework for the Banking Sector - Concept Note
English
31/03/2022: ESRB risk dashboard, March 2022 (Issue 39)
English

ESRB Risk Dashboard - Annex I
English
ESRB Risk Dashboard - Annex II
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15/03/2022: Fluctuating bail-in expectations and effects on market discipline, risk-taking and cost of capital
English
11/02/2022: Vulnerabilities in the residential real estate sectors of the EEA countries
English

All publications

4 April 2022: Climate scenario for the European Insurance and Occupational Pensions Authority's EU-wide pension and fund stress test in 2022
English

Letter to Ms Petra Hielkema
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1 April 2022: ESRB Secretariat’s response to ESMA’s consultation on APC measures for CCPs
English
1 April 2022: ESRB response letter to the European Commission consultation on the review of the mortgage credit directive
English
31 March 2022: Review of the EU Macroprudential Framework for the Banking Sector - Response to the call for advice
English
23 March 2022: Letter to the European Parliament on the AIFMD Review
English
23 March 2022: Letter to the Council Working Party on the AIFMD Review
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23 March 2022: ESRB Response letter to the European Commission targeted consultation on the review of the central clearing framework in the EU
English
21 February 2022: Opinion of the European Systemic Risk Board of 21 February 2022 regarding the existing O-SII buffer pursuant to Article 131 and the Belgium notification of the setting of a systemic risk buffer rate pursuant Article 133 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions (ESRB/2022/2)
English
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Report
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FrançaisFR NederlandsNL
14 February 2022: Adverse scenario for the European Securities and Markets Auhtority's money market fund stress testing guidelines in 2021
English

Letter to Ms Verena Ross
English
11 February 2022: Warning of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector of Slovakia (ESRB/2021/16)
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV

Cover letter
English
Response from the Ministry of Finance of the Slovak Republic, Slovakia
English
11 February 2022: Warning of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector of Liechtenstein (ESRB/2021/14)
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV

Cover letter
English
Response from the Ministry of General Government Affairs and Finance and from the Financial Market Authority, Liechtenstein
English
11 February 2022: Warning of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector of Hungary (ESRB/2021/15)
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV

Cover letter
English
Response from the Ministry of Finance State Secretary, Hungary
English
11 February 2022: Warning of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector of Croatia (ESRB/2021/13)
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV

Cover letter
English
Response from the Ministry of Finance, Croatia
English
11 February 2022: Warning of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector of Bulgaria (ESRB/2021/12)
English
OTHER LANGUAGES (23) +

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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV

Cover letter
English
Response from the Ministry of Finance, Bulgaria
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Response from the Bulgarian National Bank, Bulgaria
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11 February 2022: Recommendation of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector in Austria (ESRB/2021/11)
English

Cover letter
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11 February 2022: Recommendation of the European Systemic Risk Board of 2 December 2021 on medium-term vulnerabilities in the residential real estate sector in Germany (ESRB/2021/10)
English

Cover letter
English
Response from the General Federal Ministry of Finance, Germany
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2 February 2022: Letter to Members of the European Parliament on the Solvency II Review
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2 February 2022: Letter to the Council Working Party on the Solvency II Review
English
27 January 2022: Recommendation of the European Systemic Risk Board of 2 December 2021 on a pan-European systemic cyber incident coordination framework for relevant authorities (ESRB/2021/17)
English

European Supervisory Authorities public statement
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25 January 2022: Recommendation of the European Systemic Risk Board of 2 December 2021 on reform of money market funds (ESRB/2021/9)
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All publications

22 March 2022: Notification by Austrian Financial Market Authority on seven Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Komisja Nadzoru Finansowego on ten Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Bank of Cyprus on five Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Central Bank of Malta and Malta Financial Services Authority on four Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Commission de Surveillance du Secteur Financier on seven Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Central Bank of Greece on four Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by The Financial and Capital Market Commission on five Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Bank of Spain on one globally systemically important institution (G-SII)
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22 March 2022: Notification by Bank of Italy on one globally systemically important institution (G-SII)
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22 March 2022: Notification by De Nederlandsche Bank NV on one globally systemically significant institution (G-SII)
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22 March 2022: Notification by the Bank of Croatia on seven other systemically important institutions (O-SII)
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22 March 2022: Notification by Finansinspektionen on four Other Systemically Important Institutions (O-SII)
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22 March 2022: Notification by Bank of Lithuania on Systemic Risk Buffer (SyRB)
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22 March 2022: Notification by Eesti Pank on Systemic Risk Buffer (SyRB)
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22 March 2022: Notification by the Bulgarian National Bank on the Systemic Risk Buffer (SyRB)
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22 March 2022: Notification by Czech National Bank on LTV, DSTI and DTI limits
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22 March 2022: Notification by Financial and Capital Market Commission of Latvia on other borrower-based measure restrictions
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8 December 2021: Notification by National Bank of Slovenia on five other systemically important institutions
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8 December 2021: Notification by De Nederlandsche Bank on five other systemically important institutions (O-SIIs)
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8 December 2021: Notification by FMA on three other systemically important institutions (O-SIIs)
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8 December 2021: Notification by Central Bank of Iceland on three other systemically impotant institutions
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8 December 2021: Notification by Magyar Nemzeti Bank on seven Other Systemically Important Institutions (O-SII)
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8 December 2021: Notification by ACPR on seven other systemically important institutions (O-SIIs)
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8 December 2021: Notification by Finnish Financial Supervisory Authority on three other systemically important institutions
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8 December 2021: Notification by Eesti Pank on four other systemically important institutions (O-SIIs)
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All publications

8 November 2021 RESEARCH

Alberto Giovannini Programme for Data Science

We are looking for scientists, policy experts and researchers in data science to conduct high-level research and develop innovative analytical tools. If you want to get involved, send your proposal for the Alberto Giovannini Programme for Data Science by 31 May 2022.

Call for proposals

National Policy

Interactive map on countercyclical capital buffers

The countercyclical capital buffer (CCyB) is a macroprudential instrument that aims to counter pro-cyclicality in the financial system. The interactive map shows the CCyB rates currently applicable in Europe and is continuously updated.