European Systemic Risk Board

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ESRB annual conference

The ESRB will hold its third annual conference on 27 and 28 September in Frankfurt. It will include a speech by ESRB Chair Mario Draghi. The full programme and list of speakers will be announced soon.
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11 July 2018ACCOUNTABILITY

Hearing at European Parliament on 9 July

Mario Draghi, Chair of the ESRB, spoke before the European Parliament’s Committee on Economic and Monetary Affairs and answered questions from its Members.

Introductory statement

9 July 2018PUBLICATION

ESRB publishes its seventh annual report

2017 marked the seventh year of operation of the European Systemic Risk Board. The Annual Report 2017 summarises the main ESRB activities and achievements during the period of April 2017 until March 2018.

Annual Report
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09/07/2018: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB, Brussels, 9 July 2018
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05/07/2018: The General Board of the European Systemic Risk Board (ESRB) held its 30th regular meeting on 28 June 2018
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02/05/2018: Call for expressions of interest for members of the ESRB’s Advisory Scientific Committee
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29/03/2018: The General Board of the European Systemic Risk Board (ESRB) held its 29th regular meeting on 22 March 2018
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05/03/2018: ESRB recommends EU-wide reciprocation of Finland’s 15% risk-weight floor on Finnish mortgage loan exposures
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27/02/2018: ESRB publishes report on macroprudential structural buffers and revised Handbook on Operationalising Macro-prudential Policy in the Banking Sector
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14/02/2018: Recommendation on leverage and liquidity in investment funds
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20/12/2017: The General Board of the European Systemic Risk Board (ESRB) held its 28th regular meeting on 7 December 2017
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06/12/2017: “Ieke van den Burg Prize for Research on Systemic Risk” – call for papers for 2018 and award for 2017
Call for papers for the 2018 Ieke van den Burg Prize for Research on Systemic Risk
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20/11/2017: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement of Mario Draghi, Chair of the ESRB, Brussels, 20 November 2017
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28/09/2017: The General Board of the European Systemic Risk Board (ESRB) held its 27th regular meeting on 21 September 2017
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21/09/2017: Mario Draghi: Building on the achievements of post-crisis reforms
Speech by Mario Draghi, President of the ECB and Chair of the European Systemic Risk Board, at the second annual conference of the ESRB, Frankfurt am Main, 21 September 2017
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DeutschDE EspañolES FrançaisFR ItalianoIT NederlandsNL PolskiPL
17/08/2017: ESRB publishes two reports on macroprudential aspects of insurance
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17/07/2017: ESRB publishes a report on the financial stability implications of IFRS 9
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11/07/2017: ESRB publishes a report on resolving non-performing loans in Europe
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29/06/2017: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 26th regular meeting on 22 June 2017.
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29/05/2017: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement of Mario Draghi, Chair of the ESRB, Brussels, 29 May 2017
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29/05/2017: ESRB publishes second EU Shadow Banking Monitor
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30/03/2017: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 25th regular meeting on 23 March 2017.
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11/01/2017: Report on cyclicality of capital requirements
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22/12/2016: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 24th regular meeting on 15 December 2016.
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28/11/2016: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB, Brussels, 28 November 2016
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28/11/2016: The ESRB publishes a report on the macroprudential policy issues arising from low interest rates and structural changes in the EU financial system
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28/11/2016: The ESRB issues eight Warnings on medium-term residential real estate vulnerabilities and a Recommendation on closing real estate data gaps
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29/09/2016: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 23rd regular meeting on 22 September 2016.
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28/09/2016: Award of the "Ieke van den Burg Prize for Research on Systemic Risk" (2016): final results
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26/09/2016: Second ESRB shadow banking workshop
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22/09/2016: Mario Draghi: Welcome address
Speech by Mario Draghi, President of the ECB and Chair of the European Systemic Risk Board, at the first annual conference of the ESRB, Frankfurt am Main, 22 September 2016
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08/08/2016: ESRB recommends EU-wide reciprocation of Estonia's 1% systemic risk buffer rate
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27/07/2016: ESRB publishes first EU Shadow Banking Monitor and accompanying methodological paper
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19/07/2016: ESRB publishes its strategy paper on macroprudential policy beyond banking
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30/06/2016: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 22nd regular meeting on 23 June 2016.
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21/06/2016: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB, Brussels, 21 June 2016
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06/06/2016: ESRB Conference on the macroprudential use of margins and haircuts
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06/06/2016: Vítor Constâncio: Margins and haircuts as a macroprudential tool
Remarks by Vítor Constâncio, Vice-President of the ECB, at the ESRB Conference on Macroprudential Margins and Haircuts, Frankfurt, 6 June 2016
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24/03/2016: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 21st regular meeting on 17 March 2016.
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29/01/2016: ESRB approves two recommendations that expand the European macroprudential policy framework
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04/01/2016: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 20th regular meeting on 17 December 2015.
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16/12/2015: ESRB publishes report on systemic risks in the EU insurance sector
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07/12/2015: Mark Carney: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Opening statement by Mark Carney in his capacity as First Vice Chair of the ESRB Brussels, 7 December 2015
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12/11/2015: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB, Brussels, 12 November 2015
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24/09/2015: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 19th regular meeting on 17 September 2015
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21/08/2015: 2015 RiskLab/BoF/ESRB Conference on Systemic Risk Analytics
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25/06/2015: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 18th regular meeting on 18 June 2015.
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29/05/2015: Award of the "Ieke van den Burg Prize for Research on Systemic Risk": final results
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26/03/2015: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 17th regular meeting on 19 March 2015
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23/03/2015: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 23 March 2015
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10/03/2015: ESRB publishes report on regulatory treatment of sovereign exposures
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23/12/2014: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 16th regular meeting on 18 December 2014
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17/11/2014: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 17 November 2014
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25/09/2014: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 15th regular meeting on 18 September 2014
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30/06/2014: ESRB publishes recommendation on guidance for setting countercyclical buffer rates
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25/06/2014: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board (ESRB) held its 14th regular meeting on 18 June 2014
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30/04/2014: Adverse stress test scenarios for EU-wide stress test of banks and insurance firms
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31/03/2014: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board held its 13th regular meeting on 20 March
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03/03/2014: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 3 March 2014
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28/01/2014: ESRB General Board meeting in Frankfurt
The General Board of the European Systemic Risk Board held its 12th regular meeting on 22 January
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23/09/2013: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 23 September 2013
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19/09/2013: Bank of England Governor Mark Carney elected as First Vice-Chair of European Systemic Risk Board
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08/07/2013: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 8 July 2013
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21/03/2013: ESRB General Board meeting in Frankfurt
Strengthening the EU's financial system is needed for a sustainable recovery
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18/02/2013: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 18 February 2013
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20/12/2012: ESRB General Board meeting in Frankfurt
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20/11/2012: Francesco Mazzaferro: Panel discussion on supervisory monitoring of macro-prudential risks
Introductory remarks by Francesco Mazzaferro, Head of the ESRB Secretariat, at the Risk Management Conference, 15th Euro Finance Week, Frankfurt am Main, 20 November 2012
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DeutschDE
09/10/2012: Mario Draghi: Hearing before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 9 October 2012
ENGLISH
20/09/2012: ESRB General Board meeting in Frankfurt
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04/09/2012: Rotation of the chairmanship of the Advisory Scientific Committee
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21/06/2012: ESRB General Board meeting in Frankfurt
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31/05/2012: Mario Draghi: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 31 May 2012
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02/04/2012: Principles for macro-prudential policies in EU legislation on the banking sector
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22/03/2012: Meeting of the European Systemic Risk Board
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16/01/2012: Mario Draghi: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, Chair of the ESRB Brussels, 16 January 2012
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16/01/2012: ESRB publishes recommendation on the macro-prudential mandate of national authorities
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16/01/2012: ESRB publishes recommendation on funding of banks in US dollar
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16/01/2012: ESRB publishes recommendation on funding of banks in US dollar
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22/12/2011: Andrea Enria: Introductory statement to the press conference
Mervyn King, Vice Chair of the ESRB and Andrea Enria, Vice Chair of the ESRB, Frankfurt am Main, 22 December 2011
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11/10/2011: Jean-Claude Trichet: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Jean-Claude Trichet, Chair of the ESRB Brussels, 11 October 2011
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11/10/2011: European Systemic Risk Board publishes recommendations on lending in foreign currencies
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21/09/2011: European Systemic Risk Board Meeting
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02/05/2011: Mervyn King: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory Statement by Mervyn King, 1st Vice Chair of the ESRB, Brussels, 02 May 2011
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02/05/2011: Andrea Enria: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory Statement by Andrea Enria, 2nd Vice Chair of the ESRB, Brussels, 02 May 2011
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18/03/2011: European Systemic Risk Board Meeting
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17/02/2011: Jean-Claude Trichet: The conditions for efficient global and regional macro-supervision - Key success factors in international cooperation
Speech by Jean-Claude Trichet, President of the ECB, at the Eurofi G20 High Level Seminar, Paris, 17 February 2011
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07/02/2011: Jean-Claude Trichet: Hearing on the ESRB before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Jean-Claude Trichet, Chair of the ESRB, Brussels, 07 February 2011
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20/01/2011: European Systemic Risk Board holds inaugural meeting
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16/12/2010: European Systemic Risk Board established
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All press releases

16/08/2018: Bank resolution and public backstop in an asymmetric banking union
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16/08/2018: A profit-to-provisioning approach to setting the countercyclical capital buffer: the Czech example
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02/08/2018: The role of contagion in the transmission of financial stress
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02/08/2018: Implications of macroeconomic volatility in the Euro area
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19/07/2018: Lending standards and output growth
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All publications

26 June 2018: Opinion of the European Systemic Risk Board of 21 June 2018 regarding Swedish notification of a stricter national measure based on Article 458 of the CRR (ESRB/2018/4) and related report
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SvenskaSV

Report
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SvenskaSV
14 May 2018: Adverse scenario for EIOPA 2018 EU-wide insurance stress test
Details
The ESRB has today published the adverse scenario for the EU-wide stress test for the insurance sector to be carried out by EIOPA in 2018. This scenario, which has been approved by the General Board of the ESRB, highlights adverse conditions that are relevant to this sector. This information has also been published by EIOPA as part of its communication on the 2018 EU-wide stress tests.
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Letter
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16 March 2018: Opinion of the European Systemic Risk Board of 9 March 2018 regarding French notification of a stricter national measure based on Article 458 of the CRR (ESRB/2018/3) and related report
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FrançaisFR

Report
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FrançaisFR
15 March 2018: Opinion of the European Systemic Risk Board of 16 February 2018 regarding Belgian notification of a stricter national measure based on Article 458 of the CRR (ESRB/2018/2) and related report
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FrançaisFR NederlandsNL

Report
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FrançaisFR NederlandsNL
14 March 2018: ESRB Secretariat staff response to the European Commission’s consultation document “Fitness check on supervisory reporting”
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All publications

7 August 2018: Notification by Komisja Nadzoru Finansowego (Polish Financial Supervision Authority) on 11 other systemically important institution (O-SIIs)
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31 July 2018: Notification by Česká národní banka (Czech National Bank) on maintaining the existing systemic risk buffer
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31 July 2018: Notification by Finanstilsynet (Danish Financial Supervisory Authority) on six other systemically important institutions (O-SIIs)
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4 July 2018: Notification by FIN-FSA (the Finnish Financial Supervisory Authority) on the systemic risk buffer
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2 July 2018: Notification by Norges Bank (central bank of Norway) on requirements for new residential mortgage loans
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All publications

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 was last updated on 16 July 2018.

Learn more

PUBLICATION

Macroprudential policy measures in Europe

The ESRB has updated its overview of national measures of macroprudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures and various other measures. It was last updated on 8 August 2018.

National policy

Multimedia

Publications

A Review of Macroprudential Policy in the EU in 2017
ESRB Report, Regulatory risk-free yield curve properties and macroprudential consequences
ESRB Report, Recovery and resolution for the EU insurance sector: a macroprudential perspective
ESRB Report, Financial stability implications of IFRS 9