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Financial stability (insurers and pension funds) [9]

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Bullet points include: ESRB set up by EU Regulation in December 2010 in response to GFC. Part of the European System of Financial Supervision (ESFS) along with EBA, ESMA and EIOPA. Responsible for macroprudential oversight of EU financial system and the prevention and mitigation of systemic risk. Operates primarily by persuasion: Its General Board is currently chaired by Mario Draghi (ECB president). Other permanent representatives include national central bank governors, chairs of EU sectoral supervisory bodies (EBA, ESMA, EIOPA), a representative of the EU Commission, Chairs and two Vice-chairs of the ESRB’s Advisory Scientific Committee and Chair of the ESRB’s Advisory Technical Committee. Insurers and pension funds therefore more likely to interact with EIOPA or national supervisory authorities

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