Board of Directors of the European Stability Mechanism

E438683

The Board of Directors of the European Stability Mechanism is the body responsible for the institution’s day-to-day operational decisions and implementation of its financial assistance instruments under the strategic direction of the Board of Governors.

All labels observed (2)

How this entity was disambiguated

Statements (43)

Predicate Object
instanceOf decision-making body
governing body
belongsToJurisdiction European Stability Mechanism Treaty framework
canTakeDecisionsBy mutual agreement where required by the ESM Treaty
written procedure
chairedBy Managing Director of the European Stability Mechanism
composedOf one Director from each ESM Member
decisionMakingRule usually by qualified majority unless otherwise specified in the ESM Treaty
followsStrategicGuidanceFrom Board of Governors of the European Stability Mechanism NERFINISHED
formedBy representatives of the euro area Member States that are ESM Members
hasAbbreviation ESM Board of Directors NERFINISHED
hasLegalBasisIn Treaty Establishing the European Stability Mechanism NERFINISHED
hasNumberOfMembers 19
hasPowerTo adopt detailed operational policies and guidelines
approve disbursement tranches under assistance programmes
approve individual financial assistance agreements
hasRole day-to-day operational decision-making
implementation of financial assistance instruments
includes Directors appointed by each ESM Member
alternate Directors appointed by each ESM Member
languageOfWork English
locatedIn Luxembourg NERFINISHED
meetsAt Luxembourg NERFINISHED
other locations as decided by the Board
operatesUnderStrategicDirectionOf Board of Governors of the European Stability Mechanism NERFINISHED
oversees investment policy implementation of paid-in capital
operational management of ESM resources
risk management implementation within the ESM
parentOrganization European Stability Mechanism NERFINISHED
partOf European Stability Mechanism NERFINISHED
reportsTo Board of Governors of the European Stability Mechanism NERFINISHED
responsibleFor adopting detailed guidelines for ESM operations
approving disbursements under ESM financial assistance
approving financial assistance operations within the ESM framework
ensuring proper implementation of ESM financial assistance instruments
implementing decisions of the Board of Governors
sector European economic and financial stability
usesInstrument direct bank recapitalisation instrument (when applicable)
loans for bank recapitalisation via ESM Members
loans to ESM Members
precautionary financial assistance instruments
primary market purchases of sovereign bonds
secondary market purchases of sovereign bonds

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Board of Governors supervises Board of Directors of the European Stability Mechanism
subject surface form: Board of Governors of the European Stability Mechanism
Klaus Regling boardMemberOf Board of Directors of the European Stability Mechanism
this entity surface form: European Stability Mechanism Board of Directors