Recital 4

(4)The broad membership of the General Board of the ESRB (the ‘General Board’) is a major asset. Recent developments in the financial supervisory architecture of the Union, and in particular the creation of a banking union, are, however, not reflected in the composition of the General Board. For that reason, the Chair of the Supervisory Board of the European Central Bank (ECB) and the Chair of the Single Resolution Board established by Regulation (EU) No 806/2014 of the European Parliament and of the Council ⁵ should become members without voting rights of the General Board. Corresponding adjustments should also be made to the Advisory Technical Committee of the ESRB (the ‘Advisory Technical Committee’).