European Systemic Risk Board

The European Systemic Risk Board ( European Systemic Risk Board, ESRB), also known as EU Systemic Risk Board, is one of the European Union (EU ) Committee for the early detection, prevention and control of systemic risks within the EU financial market. It is an integral part of the existing since 1 January 2011 the European System of Financial Supervisors (European System of Financial Supervision, ESFS). The ESRB Committee is settled as a body without legal personality to the European Central Bank ( ECB) in Frankfurt am Main.

Background

The Committee was established in response to the financial crisis from 2007 through decisions of the European Parliament and the EU Council in November 2010 to life.

Tasks

The task of the ESRB, it can be observed macroeconomic developments to systemic risks to financial stability in the EU at an early stage and stem. For this, the ESRB works closely with the three European Supervisory Authorities for the banking ( EBA), insurance (EIOPA ) and securities sector ( ESMA) together.

As part of the regulation of derivatives, the ESRB will review the future together with ESMA, of which over the counter (OTC) traded products to a large systemic risk, the so this must be exchange-traded future mandatory.