The ECRB’s objective is to enhance the cyber resilience of financial market infrastructures and their critical service providers, as well as that of the wider EU financial sector, in line with international standards. This will be achieved by fostering trust and collaboration and facilitating joint initiatives – whether among market players or between market players and authorities.
The ECRB will thus contribute to the overall stability of the EU financial system. The ECRB will have no formal powers to impose binding measures and will not make supervisory judgements. Its legitimacy will stem from the voluntary commitment of its members to abide by its common positions, statements and strategic views.