1. The Steering Committee shall be composed of:
(a)
the Chair and first Vice-Chair of the ESRB;
(b)
the Vice-President of the ECB;
(c)
four other members of the General Board who are also members of the General Council of the ECB, with regard to the need for a balanced representation of Member States overall and between those whose currency is the euro and those whose currency is not the euro. They shall be elected by and from among the members of the General Board who are also members of the General Council of the ECB, for a period of 3 years;
(d)
a Member of the Commission;
(e)
the Chairperson of the European Supervisory Authority (European Banking Authority);
(f)
the Chairperson of the European Supervisory Authority (European Insurance and Occupational Pensions Authority);
(g)
the Chairperson of the European Supervisory Authority (European Securities and Markets Authority);
(h)
the President of the EFC;
(i)
the Chair of the Advisory Scientific Committee; and
(j)
the Chair of the Advisory Technical Committee.
Any vacancy for an elected member of the Steering Committee shall be filled by the election of a new member by the General Board.
2. Meetings of the Steering Committee shall be convened by the Chair of the ESRB at least quarterly, before each meeting of the General Board. The Chair of the ESRB may also convene ad-hoc meetings.