It will also rely on the human and technological resources of the European System of Central Banks to the maximum extent possible. The interplay between the ESRB and the ESAs I will now turn to the interplay between the European Systemic Risk Board and the European Supervisory Authorities. An effective mechanism for cooperation and information exchange between these authorities will be of utmost importance.
It is a necessary condition for the new institutional framework to work effectively. I see a number of areas of cooperation between the ESRB and the ESAs. The first relates to the exchange of information for the detection of systemic risk. The ESRB will need the supervisory knowledge of the financial sectors.