It is the task of the ECB to assist this new body in performing its duties. According to the Council Conclusions, the ECB will provide analytical, statistical, administrative and logistical support to the ESRB. In particular, the ECB will assist the ESRB in the development and collection of new statistical data of relevance to the ESRB on a regular basis.
The ECB will also assist the ESRB by developing and maintaining new analytical tools and methodologies for the identification and assessment of systemic risks and the issuance of early risk warnings, so that the ESRB effectively performs its tasks. This task poses important challenges because the identification and assessment of systemic risks require special skills and the further development of analytical tools.