04 Oct 2018

Loriana Pelizzon Appointed as Full Member of the Advisory Scientific Committee of the ESRB

SAFE Professor will advise the European Systemic Risk Board for the next four years

Loriana Pelizzon, Program Director of the "Systemic Risk Lab" at the Research Center SAFE since 2013, has been appointed for the next four years as a full member of the Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB). The ASC advises the ESRB on relevant issues from an academic perspective. It currently consists of 15 members. Together with Professor Pelizzon, eleven other academics were appointed as full members. While the term of Pelizzon and one other member starts immediately, the remaining ten members will start in April 2019.

"I warmly congratulate Loriana Pelizzon for the appointment as a full member of the Advisory Scientific Committee of the ESRB on behalf of the entire SAFE team. Her work on sovereign bond markets and systemic risk will greatly contribute to the work of the committee", said Jan Pieter Krahnen, Director at SAFE.

Professor Pelizzon´s research interests besides systemic risk, risk management and capital requirements include financial institutions, such as banks and insurances. Among other topics, she also works on market microstructure, liquidity provisions and high frequency trading.

The ESRB is responsible for the macroprudential oversight of the EU financial system and the prevention and mitigation of systemic risk. The ESRB has a broad remit, covering banks, insurers, asset managers, shadow banks, financial market infrastructures and other financial institutions and markets. In pursuit of its macroprudential mandate, the ESRB monitors and assesses systemic risks and, where appropriate, issues warnings and recommendations. The ESRB was established after the global financial crisis. In response to the crisis, the European Commission tasked a High Level Group, chaired by Mr Jacques de Larosière, to consider how financial supervision could be strengthened in Europe. The de Larosière Group highlighted that supervisory arrangements should concentrate not only on the supervision of individual firms but also on the stability of the financial system as whole. In 2009, the de Larosière report recommended that a Union-level body be established with a mandate to oversee risk in the financial system. On 16 December 2010 the regulation establishing the ESRB entered into force.