European Systemic Risk Board (ESRB) What is it? The ESRB is a macro-prudential oversight body for the European Union’s financial system. Where will it be based? Frankfurt, alongside the European Central Bank.

Who falls under its remit? In the first instance the ESRB will primarily interact with the ESAs, gathering data from these new agencies. However, the ESRB can also issue recommendations to member states, who would be obliged to respond and comply.