European System of Financial Supervision (ESFS)

01-02-2018

The European System of Financial Supervision (ESFS) is a multi-layered system of micro- and macro-prudential authorities that aims to ensure consistent and coherent financial supervision in the EU. It includes the European Systemic Risk Board (ESRB), the three European supervisory authorities (EBA, ESMA and EIOPA) and the national supervisors. The ESFS has continuously evolved to take account of the changing context in which it operates, notably the introduction of the Banking Union, the goal of developing a Capital Markets Union and the withdrawal of the United Kingdom from the EU.

The European System of Financial Supervision (ESFS) is a multi-layered system of micro- and macro-prudential authorities that aims to ensure consistent and coherent financial supervision in the EU. It includes the European Systemic Risk Board (ESRB), the three European supervisory authorities (EBA, ESMA and EIOPA) and the national supervisors. The ESFS has continuously evolved to take account of the changing context in which it operates, notably the introduction of the Banking Union, the goal of developing a Capital Markets Union and the withdrawal of the United Kingdom from the EU.