contents table Logo Lexparency.org lexp
On European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board
Article 4

Article 4 — Structure

  1. The ESRB shall have a General Board, a Steering Committee, a Secretariat, an Advisory Scientific Committee and an Advisory Technical Committee.
  2. The General Board shall take the decisions necessary to ensure the performance of the tasks entrusted to the ESRB, pursuant to Article 3(2).
  3. When consulted on the appointment of the head of the Secretariat in accordance with Article 3(2) of Council Regulation (EU) No 1096/2010(1), the General Board, following an open and transparent procedure, shall assess whether the shortlisted candidates for the position of head of the Secretariat possess the qualities, impartiality and experience necessary to manage the Secretariat. The General Board shall inform the European Parliament and the Council in sufficient detail about the assessment and consultation procedure.
  4. The Steering Committee shall assist in the decision-making process of the ESRB by preparing the meetings of the General Board, reviewing the documents to be discussed and monitoring the progress of the ESRB’s ongoing work.
  5. When giving directions to the head of the Secretariat in accordance with Article 4(1) of Council Regulation (EU) No 1096/2010, the Chair and the Steering Committee may address the following:
    1. the day-to-day management of the Secretariat;
    2. any administrative and budgetary issues related to the Secretariat;
    3. the coordination and preparation of the work and the decision making of the General Board;
    4. the preparation of the annual ESRB programme proposal and its implementation;
    5. the preparation of the annual report on the ESRB’s activities and the reporting to the General Board on the implementation of the annual programme.
  6. The Secretariat shall be responsible for the day-to-day business of the ESRB. It shall provide high-quality analytical, statistical, administrative and logistical support to the ESRB under the direction of the Chair and the Steering Committee in accordance with Council Regulation (EU) No 1096/2010(2). It shall also draw on technical advice from the ESAs, national central banks and national supervisors.
  7. The Advisory Scientific Committee and the Advisory Technical Committee referred to in Articles 12 and 13 shall provide advice and assistance on issues relevant to the work of the ESRB.