It will be responsible for the macro-prudential supervision of the EU financial system. The key task of the ESRB will be to identify and assess risks to the stability of the EU financial system and issue risk warnings when the identified risks appear to be significant and policy recommendations for remedial action.
I am happy that with its involvement in the ESRB, the ECB will continue to play an active role in safeguarding the financial stability in Europe. Financial Market infrastructures Let me now turn to the priorities as regards financial market infrastructures. Financial market infrastructures underpin the stability of the financial system.