European Systemic Risk Board

The European Systemic Risk Board (ESRB) is a group established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth.

The ESRB is a macro-prudential oversight body of the EU and it is part of the European System of Financial Supervision (ESFS), the purpose of which is to ensure the supervision of the EU's financial system. As a body lacking juridical personality, the ESRB relies on hosting and support by the European Central Bank. It includes representatives from the ECB, national central banks and supervisory authorities of EU member states, and the European Commission.