BIS central bankers’ speeches  1  As you probably know, the European Central Bank (ECB) has close links with the ESRB. These include, first, a personal link: the President of the ECB also serves as the Chairperson of the ESRB. Second, the ECB provides logistical and administrative support by hosting the ESRB secretariat.
When the banking industry experiences serious problems--as it has from time to time in U.S. history--the economy tends to suffer as well.