ESRB elects sub-committee heads


At its inaugural meeting on Thursday, the European Systemic Risk Board (ESRB), the macroprudential oversight body for the European Union, decided on the set-up of its sub-committees and on the procedural rules it will follow.

The ESRB's general board, the main decision-making organ, elected Marek Belka, the governor of the National Bank of Poland; Mario Draghi, the governor of the Bank of Italy and the head of the Basel-based Financial Stability Board; Athanasios Orphanides, the governor of the

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