The coronavirus emergency: the General Board of the European Systemic Risk Board takes first set of actions

At its latest extraordinary meeting, the General Board of the European Systemic Risk Board (ESRB) discussed a first set of actions in five priority areas identified to address the impact of the coronavirus (COVID-19) emergency on the financial system from a macroprudential perspective.

These actions aim at achieving an effective policy response across sectors and across countries, and, at the same time, ensure that necessary national macroprudential actions do not cause negative spillovers and negatively affect the EU’s Single Market and the level playing field.

This article provides further insight on the market illiquidity and the implications for asset managers and insurers.