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Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (ESRB Regulation)RecitalsChapter I General provisions (arts. 1-3)Article 1 EstablishmentArticle 2 DefinitionsArticle 3 Mission, objectives and tasksChapter II Organisation (arts. 4-14)Article 4 StructureArticle 5 Chair and Vice-Chairs of the ESRBArticle 6 General BoardArticle 7 ImpartialityArticle 8 Professional secrecyArticle 9 Meetings of the General BoardArticle 10 Voting modalities of the General BoardArticle 11 Steering CommitteeArticle 12 Advisory Scientific CommitteeArticle 13 Advisory Technical CommitteeArticle 14 Other sources of adviceChapter III Tasks (arts. 15-18)Article 15 Collection and exchange of informationArticle 16 Warnings and recommendationsArticle 17 Follow-up of the ESRB recommendationsArticle 18 Public warnings and recommendationsChapter IV Final provisions (arts. 19-21)Article 19 Accountability and reporting obligationsArticle 20 ReviewArticle 21 Entry into forceDone at
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AI Summary of Article 2 Definitions

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Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 30 December 2019 - onwards
Version 3 of 3

Article 2 Definitions

For the purpose of this Regulation, the following definitions shall apply:

(a) "financial institution" means any undertaking that falls within the scope of the legislation referred to in Article 1(2) of Regulation (EU) No 1093/2010, of Regulation (EU) No 1094/2010 and of Regulation (EU) No 1095/2010, as well as any other undertaking or entity in the Union whose main business is of a similar nature;

(b) "financial system" means all financial institutions, markets, products and market infrastructures;

(c) "systemic risk" means a risk of disruption in the financial system with the potential to have serious negative consequences for the real economy of the Union or of one or more of its Member States and for the functioning of the internal market. All types of financial intermediaries, markets and infrastructure may be potentially systemically important to some degree.

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