At the third meeting of the ESRB, the board discussed:

  • the need for swift action to implement agreed actions in the light of recent risks to stability;
  • the risks of foreign exchange lending and the marketing of complex products to retail investors;
  • the opacity and complexity of some exchange-traded funds and structured UCITS; and
  • the impact of liquidity and the possible simplifying impact on market shocks of high-frequency trading.

(Source: ESRB Press Release on Third Meeting)