Committees of the ESCB

In the performance of their work, the decision-making bodies of the ECB are supported by ESCB and SSM committees. These committees play a key role in the internal cooperation of the ESCB and offer advice in their respective areas of competence, thereby facilitating the decision-making process.

The ECB Governing Council is responsible for establishing and dissolving these committees, as well as for defining their tasks.

The committees comprise experts from the ECB and the Eurosystem’s national central banks (NCBs). In the case of committees dealing with the prudential supervision of credit institutions, experts from the national supervisory authorities participating in the Single Supervisory Mechanism (SSM) also take part. In addition, ESCB committees may include experts from the NCBs of non-euro area countries when dealing with matters within the General Council's area of competence. Likewise, invitations may be extended to representatives of organisations other than the ECB where deemed appropriate.

The committees assist in the work of the ECB’s decision-making bodies and report on their activities to the Governing Council, which, like the Executive Board, has the right to request studies on specific topics. In the area of prudential supervision, the committees report to the Supervisory Board and, where appropriate, to the Governing Council.

The number and mandate of the committees of the ESCB has varied since it was created, but, in general, they reflect the different functions entrusted to the ESCB and the SSM, as well as the tasks relating to their internal functioning.