Therefore, potential changes in the ESRB’s organizational structure and its ties to the ECB should reflect the ECB’s new role in the SSM. Overall, the ESRB’s mandate is appropriate and its role is essential in coordinating and assessing macro-prudential policies for the whole EUfinancial market. However, there are three areas in which the efficiency and effectiveness of the ESRB could improve: 1.
But work in central banks has had to continuously adapt to meet the challenges of a changing environment. The tasks of price stability, financial stability and oversight of payment and settlement systems tend to change and take on new forms, but the core content endures.