Governor Stefan Ingves to play central role in ESRB

Date 20/01/2011

The European Systemic Risk Board, ESRB, held its inaugural meeting in
Frankfurt today. The meeting elected Riksbank Governor Stefan Ingves chair of one of the two advisory bodies at the ESRB, the Advisory Technical Committee. This appointment means that he will also be a member of the Steering Com-mittee that prepares the General Board’s meetings and monitors the ESRB’s day-to-day work, and of the Advisory Scientific Committee, which is the other advisory body. Stefan Ingves will thus play a central role in the governance of the ESRB’s work.

“The establishment of the European Systemic Risk Board is an important step in safeguarding financial stability in the EU. I therefore look forward to this opportunity to take part in the work on shaping the ESRB and conducting the important work ahead of us”, comments Governor Stefan Ingves.

The ESRB’s tasks are to identify potential risks to the stability of the financial system in the EU and to issue warnings and/or recommendations in the event of serious risks. The General Board includes, among others, the central bank governors and the heads of the supervisory authorities in the EU.