ESRB Warning In this context of increased uncertainty, a few days ago the European Systemic Risk Board (ESRB) issued a warning on vulnerabilities in the Union financial system. The ESRB considers it necessary for private sector institutions, market participants and relevant authorities to continue to prepare for materialisation of tail-risk scenarios.
Consultation and coordination The Dodd-Frank Act requires that the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) consult with the Board on the rules they are crafting to implement several provisions of title VII.