The European Systemic Risk Board (ESRB) is an independent EU body, the purpose of which is the macro-prudential supervision of the financial system of the EU. The establishment of the ESRB that brings together the responsibilities for the supervision of systemic risk in all financial sectors was necessary because of the increasing internationalization of financial markets and the risk of contagion of financial crises.
 
The ESRB is designed to contribute to the prevention or mitigation of systemic risks to financial stability in the EU which arise from developments within the financial system, and to take into account macroeconomic developments, so as to prevent serious negative impact on the financial system and the economy in general.