European Systemic Risk Board
{{About-distinguish|the European financial agency|Entertainment Software Rating Board}}
{{Infobox government agency
| agency_name = European Systemic Risk Board
| logo = European Systemic Risk Board logo.svg
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| formed = {{Start date|2010|12|16}}
| jurisdiction = European Union
| keydocument1 = [http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:331:0001:0011:EN:PDF Regulation (EU) No 1092/2010]
| keydocument2 = [http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:331:0162:0164:EN:PDF Council Regulation (EU) No 1096/2010]
| headquarters = Seat of the European Central Bank, Sonnemannstrasse 20, 60311 Frankfurt am Main, Germany
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| region_code = EU
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| chief1_name = Christine Lagarde
| chief1_position = Chair of the ESRB
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| parent_agency = European Central Bank
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| website = {{URL|www.esrb.europa.eu}}
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The European Systemic Risk Board (ESRB{{Cite web|url=https://www.esrb.europa.eu/home/html/index.en.html|title=European Systemic Risk Board|first=European Systemic Risk|last=Board|date=Mar 2, 2023|website=European Systemic Risk Board|accessdate=Mar 19, 2023}}) is a group established on 16 December 2010{{Cite web|url=https://www.esrb.europa.eu/shared/pdf/101216_ESRB_establishment.en.pdf?20c8cadce98d21eb005aad871b87fa6f|title=REGULATION (EU) No 1092/2010 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL|website=www.esrb.europa.eu|accessdate=Mar 19, 2023}} in response to the 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.{{cite web|title=Glossary: European Systemic Risk Board (ESRB)|url=https://www.bundesbank.de/Navigation/EN/Service/Glossary/Functions/glossary.html?lv2=129524&lv3=145666#145666|publisher=Deutsche Bundesbank|access-date=11 February 2016|archive-date=18 May 2022|archive-url=https://web.archive.org/web/20220518105444/https://www.bundesbank.de/Navigation/EN/Service/Glossary/Functions/glossary.html?lv2=129524&lv3=145666#145666|url-status=dead}}
Overview
The operation of the board has been entrusted to the European Central Bank and the first Chair of the ESRB was Jean-Claude Trichet. Currently the ESRB is chaired by Christine Lagarde, the ECB president. In order to take advantage of existing and compatible structures, and to minimise any delay to the commencement of its operations, the ECB provides analytical, statistical, administrative and logistical support to the ESRB, and technical advice is also drawn from national central banks, supervisors and an independent scientific committee.
Ieke van den Burg Prize for research on systemic risk
The ESRB's Advisory Scientific Committee awards the annual Ieke van den Burg Prize for outstanding research conducted by young academics on a topic related to the ESRB's mission. The prize is named in honor of Ieke van den Burg, for her work on financial stability. The winning paper is usually presented at the ESRB Annual Conference and published in the ESRB Working Paper Series.
| class="wikitable sortable"
|+List of recipients !Year !Recipient(s) !Title of research paper !Ph.D. alma mater |
| 2015
|Claire Célérier and Boris Vallée |The Motives For Financial Complexity: An Empirical Investigation |
| rowspan="2" |2016
|Matthias Efing |Arbitraging the Basel Securitization Framework: Evidence from German ABS Investment |
| {{Ill|Sergey Chernenko|uk|Черненко Сергій Павлович}} and Adi Sunderam
|Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds |
| 2017
|Marco D’Errico and Tarik Roukny |Compressing over-the-counter markets |
| 2018
|Kilian Huber |Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties |
| rowspan="2" |2019
|André F. Silva |Strategic Liquidity Mismatch and Financial Sector Stability |
| Guillaume Vuillemey
|The Value of Central Clearing |
| 2020
|Marcus Mølbak Ingholt |Multiple Credit Constraints and Time-Varying Macroeconomic Dynamics |
| 2021
|Karsten Müller and Emil Verner |Credit allocation and macroeconomic fluctuations |
==See also==
References
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External links
- [http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:331:0001:0011:EN:PDF Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24/11/2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (the ‘ESRB Regulation’)]
- [http://www.esrb.europa.eu/shared/pdf/ESRB-ECB-en.pdf?bdf1f42803e9c9233cd4ce227bb0e160 Council Regulation (EU) No 1096/2010 of 17/11/2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board]
- [http://ec.europa.eu/internal_market/finances/docs/de_larosiere_report_en.pdf Larosière report]
- [http://www.esrb.europa.eu/pub/pdf/ESRB-Rules-of-Procedure.pdf?6ae4e5548638f85cbffe5a976ac6cfb7 Rules of procedure of the ESRB]
- [http://www.esrb.europa.eu/pub/pdf/ESRB_Code_of_Conduct1.pdf?f8686b61abc95e73d84d88663ad9f431 Code of conduct of the ESRB]
{{European Union topics}}
{{Authority control}}
Category:2010 in the European Union
Category:European Union financial market policy
Category:Financial regulatory authorities
Category:Government agencies established in 2010
Category:Organisations based in Frankfurt
Category:2010 establishments in Germany
sv:Europeiska systemet för finansiell tillsyn#Europeiska systemrisknämnden