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Jean-Claude Trichet, President of the ECB and Chair of the ESRB.
The European Systemic Risk Board (ESRB), an independent EU body responsible for the macro-prudential oversight of the financial system within the Union, was established Thursday
It is supposed to contribute to the prevention or reduction of systemic risks to financial stability in the Union that arise from developments within the financial system.
Another ESRB task is to contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth, as the European Central Bank announces.
According to the European Commission's proposal on ESRB's establishment, the Board will not have any binding powers to impose measures on Member States or national authorities. It has been conceived as a "reputational" body with a high level composition that should influence the actions of policy makers and supervisors by means of its moral authority.
The seat of the Board is in Frankfurt am Main in Germany.
The Chair of the ESRB is the President of the European Central Bank, Jean-Claude Trichet, as it is foreseen by the legislation on the basis of which the Board is established.
Mervyn King, Governor of the Bank of England, was elected today as first Vice-Chair of the ESRB by the members of the General Council of the ECB.
The General Board of the ESRB will have its inaugural meeting on 20 January 2011.
The Bulgarian National Bank (BNB) Governor Ivan Iskrov is a member of ESRB's General Council with a right to vote.
In a recent announcement, the Bulgarian National Bank has confirmed that the base interest rate for February will stand at 3.79%, maintaining the status quo from January. This decision follows a marginal reduction of 0.01% made in December 2023
A significant shift is on the horizon for Bulgaria's financial landscape as the Bulgarian National Bank (BNB) gears up for its integration into the Eurozone by January 1, 2025
The European Central Bank announced that the consumer price index of the Eurozone has edged to its highest level in a decade.
Bulgaria has officially submitted documents to the European Central Bank for membership of the ERM II exchange rate mechanism.
The European Central Bank (ECB) and the National Bank of Bulgaria (BNB, the central bank) have set up a swap line to ensure liquidity of up to two billion euros, the BNB said on Wednesday.
EU countries will each have to secure guarantees worth billions of euros for the loan to Ukraine funded by frozen Russian assets, Politico’s Brussels edition reports.
Bulgaria's Minister of Defense Todor Tagarev admitted the possibility that an explosive device might have been planted on board the crashed plane in which Yevgeny Prigozhin was traveling
The European Commission has announced that it is preparing criminal proceedings against Bulgaria, Cyprus, Greece, Malta, and Portugal for incorrect application of the rules on the exchange of data on criminal records and the establishment of the relevant
The European Commission has started an evaluation of the Plan for Reconstruction and Development of Bulgaria, said the spokesman of the European Commission Eric Mamer. The document was submitted to the Commission on 15 October.
58% of Bulgarians do not support the introduction of the euro as the official currency in the country. This shows a study prepared by Trend agency specifically for the financial forum NEXT DIFI 2021, organized by b2b Media for the fifth year. The data dur
Too late Bulgaria began to explain its own position towards North Macedonia, as it should have been clear to our European partners some time ago.
Aniventure Comic Con Returns to Bulgaria with Star Guest Christopher Judge!
Global Fuel Shock: Oil Jumps Over 40% Since Iran War Began
