The General Board of the European Systemic Risk Board (ESRB) held its inaugural meeting in Frankfurt am Main today. Attending were 82 Board members, among whom the twenty seven Governors of the national central banks of the EU Member States; the President and the Vice-President of the European Central Bank (ECB); the representative of the European Commission Olli Rhen, EU Commissioner for economic and monetary affairs, the Chairpersons of the three new European Supervisory Authorities; high-ranking representatives of the national supervisory authorities of the Member States and the President of the Economic and Financial Committee (EFC).  
Bulgaria was represented by Mr. Ivan Iskrov, Governor of the Bulgarian National Bank, Mr. Stoyan Mavrodiev, Chairman of the Financial Supervision Commission and Mrs. Antonia Gineva, member of the Financial Supervision Commission. At the meeting a package of documents was adopted, defining the framework of the ESRB activities, and the work-program for 2011 was approved. Elected were also the members of the ESRB Steering Committee – Mr. Mare Belk, Governor of the Markdown Bank Polka; Mr. Mario Draught, Governor of the Bianca d’Italia; Mr. Athanasios Orphanides, Governor of the Central Bank of Cyprus and Mr. Axel Weber, President of the Deutsche. Mr. Stefan Ingves, Governor of the Sveriges Riksbank was elected Chair of the Advisory Technical Committee. The General Board approved the procedure and criteria for selection of the members of the Advisory Scientific Committee.

The next meeting of the General Board will take place in Frankfurt am Main on 18 March, 2011.