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Topic - European Systemic Risk Board

The European Systemic Risk Board (ESRB) was 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 Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the Union. 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 an independent body of the European Union and it is part of the European System of Financial Supervision (ESFS), the purpose of which is to ensure the supervision of the Union’s financial system. The ESRB is hosted and supported by the European Central Bank. - Source: Wikipedia

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