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Reform of the European Systemic Risk Board (ESRB)

Summary

This proposal updates the rules for the European Systemic Risk Board (ESRB) to improve its efficiency and transparency. It includes making the ECB President a permanent Chair and increasing parliamentary oversight of financial warnings.
10 27.12.2019
Other
economy
finance
european union
administrative reform
public administration

Key points

  • The mandate is updated to include monitoring risks arising from technological changes and environmental or social factors.
  • The President of the European Central Bank will serve as the permanent Chair of the ESRB.
  • The Chairs of the ECB Supervisory Board and the Single Resolution Board will become voting members of the General Board.
  • Warnings and recommendations regarding financial risks must be shared with the European Parliament to increase transparency.
Documents (PDFs)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1092/2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board ***I
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