quinta-feira, abril 07, 2011

European Systemic Risk Board names advisory group

The  European Systemic Risk Board  Board, created to help detect and mitigate  financial sector problems in Europe, met for the second time to  discuss in broad terms risks and vulnerabilities of a systemic nature in the European Union. 

The ESRB will work together with the European Banking Authority (EBA) – in implementing countercyclical capital buffers once the Basel agreements are transposed into EU law, exchange information  with other EU supervisoryl institutions.   The ESRB will be fully involved in the stress tests carried out by the European Supervisory Authorities (ESAs).

The ESRB by establishing the Advisory Scientific Committee (ASC). The 15 members selected are (in alphabetical order): Mr Viral Acharya; Mr Leszek Balcerowicz; Mr Arnoud Boot; Mr Markus K. Brunnermeier; Ms Claudia Buch; Mr Dario Focarelli; Mr Stefan Gerlach; Mr Alberto Giovannini; Mr Martin Hellwig; Mr Marco Pagano; Mr Jean-Charles Rochet; Mr André Sapir; Mr Dirk Schoenmaker; Ms Ieke van den Burg; Mr Charles Wyplosz.

The Advisory Scientific Committee will contribute to:
-Improving analytical methodologies to detect risks and assess potential impacts of their materialisation.
- Designing and calibrating effective macro-prudential policy tools, including improving existing tools or models, as well as proposing new and/or complementary analytical tools and models.
-  An open, independent and analytical review of macro-prudential strategies and operational frameworks, in order to contribute to a continuously state-of-the-art ESRB policy framework.