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The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union that has been in operation since 2011. The system consists of the European Supervisory Authorities (ESAs), the European Systemic Risk Board, the Joint Committee of the European Supervisory Authorities, and the national supervisory authorities of EU member states. [1]
The European Science Fiction Society (ESFS) is an international organisation of professionals and fans who are committed to promoting science fiction in Europe and European science fiction worldwide. The organisation was founded at the first Eurocon (European Science Fiction Convention), which was held in 1972 in Trieste , Italy .
It was agreed by the Council of the European Union [a] [1] on 9 May 2010, with the objective of preserving financial stability in Europe by providing financial assistance to eurozone states in economic difficulty. [2] The Facility's headquarters are in Luxembourg City, [3] as are those of the European Stability Mechanism. [4]
Europe Declaration (1951) Spaak Report (1956) ... ESFS European Supervisory Authorities; ... Number of shares Capital subscription
Therefore, what was known as the level 3 Lamfalussy agencies, the 3L3 Committees (CESR, CEIOPS, CEBS) in this four level framework, were taken over by the current European Supervisory Authorities (ESA are composed of ESMA, EIOPA, EBA) in the European System of Financial Supervision (ESFS) launched in 2011 in answer to the debt crisis. [5]
Europe Declaration (1951) Spaak Report (1956) Treaty of Rome (1957) Euratom Treaty (1957) Merger Treaty (1965) Solemn Declaration (1983) Single European Act (1986) Maastricht Treaty (1992) Treaty of Amsterdam (1997) Treaty of Nice (2001) Berlin Declaration (2007) Treaty of Lisbon (2007) Article 7; Article 50
It runs under the supervision of the Commission [2] and aims at preserving financial stability in Europe by providing financial assistance to member states of the European Union in economic difficulty. [3] The Commission fund, backed by all 27 European Union member states, has the authority to raise up to €60 billion.
The European Systemic Risk Board (ESRB [1]) is a group established on 16 December 2010 [2] in response to the financial crisis.It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU.