English
Other languages23 +
Menu
  • 52nd meeting of the ESRB General Board
    PUBLICATION
    52nd meeting of the ESRB General Board

    At its meeting on 30 November, the General Board assessed that the risks to the EU financial stability remain elevated.

Measures taken in response to coronavirus (COVID-19) pandemic
ESRB risk dashboard
7 December 2023 PUBLICATION

ESRB risk dashboard

The ESRB risk dashboard is a set of indicators showing the extent and causes of systemic risk in the EU financial system. It is published quarterly.

One year on, taking stock of the ESRB’s financial stability warning
16 November 2023 SPEECH

One year on, taking stock of the ESRB’s financial stability warning

A year after the ESRB’s first ever general warning on vulnerabilities in the EU financial system, some of the risks have materialised, says ESRB Chair Christine Lagarde. Others have not, but policymakers must still take action to keep them in check.

07/12/2023
ESRB risk dashboard, November 2023 (Issue 46)
English
ESRB risk dashboard - Annex I
English
ESRB risk dashboard - Annex II
English
15/11/2023
Intermediation in US and EU bond and swap markets: stylised facts, trends and impact of the coronavirus (COVID-19) crisis in March 2020
English
15/11/2023
The transmission of macroprudential policy in the tails: evidence from a narrative approach
English
05/10/2023
ESRB risk dashboard, September 2023 (Issue 45)
English
ESRB risk dashboard - Annex I
English
ESRB risk dashboard - Annex II
English
02/10/2023
The European significant risk transfer securitisation market
English
15/09/2023
Insurers’ investment behaviour and the coronavirus (COVID-19) pandemic
English
04/09/2023
Issues note on policy options to address risks in corporate debt and real estate investment funds from a financial stability perspective
English
01/08/2023
Quantitative easing, accounting and prudential frameworks, and bank lending
English
03/07/2023
ESRB Annual Report 2022
English
OTHER LANGUAGES (23) +
Select your language
БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
01/07/2023
Fear the Walking Dead? Zombie Firms in the Euro Area and Their Effect on Healthy Firms’ Credit Conditions
English
01/07/2023
The demand for long-term mortgage contracts and the role of collateral
English
29/06/2023
Corporate credit and leverage in the EU: recent evolution, main drivers and financial stability implications
English
29/06/2023
ESRB risk dashboard, June 2023 (Issue 44)
English
ESRB risk dashboard - Annex I
English
ESRB risk dashboard - Annex II
English
06/06/2023
EU Non-bank Financial Intermediation Risk Monitor 2023
English
Annex
English
25/05/2023
Crypto-assets and decentralised finance
English
11/04/2023
ESRB risk dashboard, March 2023 (Issue 43)
English
ESRB risk dashboard - Annex I
English
ESRB risk dashboard - Annex II
English
01/03/2023
The externalities of fire sales: evidence from collateralized loan obligations
English
01/03/2023
Financial fragility in open-ended mutual funds: the role of liquidity management tools
English
14/02/2023
Advancing macroprudential tools for cyber resilience
English
25/01/2023
Vulnerabilities in the EEA commercial real estate sector
English
24/01/2023
Stabilising financial markets: lending and market making as a last resort
English
08/12/2022
ESRB risk dashboard, November 2022 (Issue 42)
English
ESRB risk dashboard - Annex I
English
ESRB risk dashboard - Annex II
English
01/12/2022
The market for short-term debt securities in Europe: what we know and what we do not know
English
21/11/2022
Fiscal support and macroprudential policy - Lessons from the COVID-19 pandemic
English
14/11/2022
Bank capital regulation and climate change
English

All publications

5 October 2023
ESRB Letter to the European Parliament - background information on the proposal to introduce an active account requirement
English
5 October 2023
ESRB Letter to the European Commission - background information on the proposal to introduce an active account requirement
English
5 October 2023
ESRB Letter to the Council of the European Union - background information on the proposal to introduce an active account requirement
English
2 October 2023
Opinion of the European Systemic Risk Board of 3 August 2023 regarding the existing systemic risk buffer pursuant to Article 133 and the Norwegian notification of the setting or resetting of an O-SII buffer pursuant to Article 131 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions (ESRB/2023/6)
English
Report
English
2 October 2023
ESRB response to ESMA’s final report on extending emergency measures on CCP collateral requirements
English
29 September 2023
Opinion of the European Systemic Risk Board of 1 September 2023 regarding the Polish notification of higher risk weights set for immovable property pursuant to Articles 124(2) and 125(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (ESRB/2023/8)
English
OTHER LANGUAGES (1) +
Select your language
PolskiPL
Report
English
OTHER LANGUAGES (1) +
Select your language
PolskiPL
28 September 2023
ESRB response on the request for information for post-implementation Review of IFRS 9 Financial Instruments – Impairment
English
27 September 2023
ESRB advice on the prudential treatment of environmental and social risks
English
14 September 2023
Opinion of the European Systemic Risk Board of 09 June 2023 regarding Swedish notification of a stricter national measure based on Article 458 of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (ESRB/2023/3)
English
OTHER LANGUAGES (1) +
Select your language
SvenskaSV
Report
English
19 July 2023
Opinion of the European Sytemic Risk Board of 31 May 2023 regarding the Estonian notification of an extension of the period of application of a stricter national measure based on Article 458 of Regulation (EU) No 575/2013 of the European Parliament and the Council on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (ESRB/2023/2)
English
OTHER LANGUAGES (1) +
Select your language
Eesti keelET
Report
English
OTHER LANGUAGES (1) +
Select your language
Eesti keelET
31 May 2023
Adverse scenario for the European Securities and Markets Authority's 2023 central counterparty stress test
English
Letter to Ms Verena Ross
English
ESMA 2023 central counterparty stress test (shocks)
English
17 May 2023
ESRB response to ESMA’s Final Report on Emergency measures on collateral requirements, including draft RTS amending Commission Delegated Regulation (RTS) 153/2013
English
30 March 2023
Letter from ECB President and ESRB Chair to Ms Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and Capital Markets Union, on stress testing
English
20 March 2023
Letter to Members of the European Parliament on EMIR review
English
20 March 2023
Letter to the Council Working Party on EMIR review
English
20 March 2023
Macro-financial scenario for the 2023 EU-wide banking sector stress test (updated on 20 March 2023)

Details

This version includes correction of specific values in table 4.1.11. Those changes are specified in the corrigendum table.

English
Letter to Mr José Manuel Campa (30 January 2023)
English
Letter to Mr José Manuel Campa (1 March 2023)
English
Letter to Mr José Manuel Campa (20 March 2023)
English
2023 EU-wide stress test - Adverse macrofinancial scenario (updated on 20 March 2023)
English
2023 EU-wide stress test - Real Gross Value Added by sector (updated on 1 March 2023)
English
Corrigendum (updated on 20 March 2023)
English
2023 EU-wide stress test - Market risk scenario provided by the ECB (30 January 2023)
English
25 January 2023
Recommendation of the European Systemic Risk Board of 1 December 2022 on vulnerabilities in the commercial real estate sector in the European Economic Area (ESRB/2022/9)
English
OTHER LANGUAGES (23) +
Select your language
БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR GaeilgeGA HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
Related
30 November 2022
Adverse scenario for the European Securities and Markets Authority's money market fund stress testing guidelines in 2022
English
Letter to Ms Verena Ross
English
16 November 2022
Letter to the Council Working Party on the Solvency II Review and Liquidity Risk Management
English
16 November 2022
Letter to Members of the European Parliament on the Solvency II Review and Liquidity Risk Management
English

All publications

30 September 2023
Notification by Minister of Finance (Poland) on Risk Weights, Article 124
English
29 September 2023
Notification by National Bank of Belgium on sectoral Systemic Risk Buffer (sSyRB)
English
29 September 2023
Notification by Ministry of Finance (Norway) on Other Systemically Important Institutions (O-SIIs)
English
29 September 2023
Notification by Banco de España (Spain) on Other Systemically Important Institutions (OSIIs)
English
27 September 2023
Notification by Finanzmarktaufsicht Liechtenstein on borrower-based measures (BBMs)
English
25 September 2023
Notification by Financial Market Authority Liechtenstein on Systemic Risk Buffer (SyRB)
English
13 September 2023
Notification by Finansinspektionen (Sweden) on Article 458 CRR
English
30 July 2023
Notification by the Haut Conseil de Stabilité Financière (France) on Systemic Risk Buffer (SyRB)
English
1 July 2023
Notification by FIN-FSA (Finland) on borrower-based measures (BBMs)
English
1 July 2023
Notification by National Committee for Macroprudential Oversight (Romania) for Systemic Risk Buffer (SyRB)
English
29 June 2023
Notification by the Finnish Financial Supervisory Authority (Finland) on Other Systemically Important Institutions (O-SIIs)
English
5 May 2023
Notification by the Financial Market Authority (Liechtenstein) on Other Systemically Important Institutions (O-SIIs)
English
30 March 2023
Notification by Finnish Financial Supervisory Authority (Finland) on Systemic Risk Buffer (SyRB)
English
28 March 2023
Notification by the Central Bank of Malta on Systemic Risk Buffer (SyRB)
English
9 March 2023
Notification by the Latvijas Banka (Latvia) under Article 124 CRR
English
8 March 2023
Notification by the Financial Services Authority and Central Bank of Malta under Article 124 CRR
English
2 February 2023
Notification by Norges Bank (Norway) on borrower-based measures (BBMs)
English
19 January 2023
Notification by Malta Financial Services Authority (Malta) on other macroprudential measures
English
13 January 2023
Notification by Polish Ministry of Finance (Poland) on Article 124 CRR
English
5 January 2023
Notification by Magyar Nemzeti Bank (Hungary) on Mortgage Funding Adequacy Ratio
English
1 January 2023
Notification by FIN-FSA (Finland) on borrower-based measures (BBMs)
English
23 December 2022
Notification by Hrvatska Narodna Banka (Croatia) on Systemic Risk Buffer (SyRB)
English
23 December 2022
Notification by Commission de Surveillance du Secteur Financier (CSSF) (Luxembourg) on Other Systemically Important Institutions (O-SIIs)
English
22 December 2022
Notification by Financial and Capital Market Commision (FCMC) (Latvia) of Other Systemically Important Institutions (O-SIIs)
English
22 December 2022
Notification by Komisja Nadzoru Finansowego (Poland) on ten other systemically important instititutions (O-SIIs)
English

All publications

Seventh ESRB Annual Conference
16 November 2023 EVENT

Seventh ESRB Annual Conference

Our Annual Conference took place online on 16 November. Policymakers, central bankers and academics discussed financial stability risks and regulation. You can watch all speeches and panel discussions on the conference page.

Interactive map on countercyclical capital buffers
National Policy

Interactive map on countercyclical capital buffers

The countercyclical capital buffer (CCyB) is a macroprudential instrument that aims to counter pro-cyclicality in the financial system. The interactive map shows the CCyB rates currently applicable in Europe and is continuously updated.