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  • EVENT
    Fifth ESRB annual conference

    Our annual conference will take place on 8 December to celebrate the tenth anniversary of the ESRB. Senior policymakers, central bankers and top academics will discuss the challenges that lie ahead for macroprudential policy. Check out the programme and follow the conference online.

Measures taken in response to coronavirus (COVID-19) pandemic
1 December 2021 PUBLICATION

Reports on macroprudential stance

We have published two reports on macroprudential stance, continuing the work begun in 2019. The reports explore how to assess a country’s macroprudential stance, and demonstrate complementary approaches for assessing, discussing and communicating on the topic.

24 September 2021 Publication

ESRB Risk Dashboard

The ESRB Risk Dashboard is a set of quantitative and qualitative indicators of systemic risk in the EU financial system. The dashboard is published on a quarterly basis.

25 November 2021
Template 3 - Reporting templates under Recommendation B of Recommendation ESRB/2020/08
19 October 2021
Opinion of the European Systemic Risk Board of 19 October 2021 regarding the Swedish notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2021/8)
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Report
English
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16 July 2021
Opinion of the European Systemic Risk Board of 17 June 2021 regarding the Estonian notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2021/5)
English
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Report
English
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25 June 2021
Opinion of the European Systemic Risk Board of 25 May 2021 regarding the French notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2021/4)
English
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Report
English
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7 June 2021
Adverse scenario for the ESMA 2021 EU-wide central counterparty stress test
7 May 2021
Adverse scenario for the EIOPA 2021 EU-wide insurance sector stress test
22 March 2021
Opinion of the European Systemic Risk Board of 18 February 2021 regarding the Belgian notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2021/1)
English
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Report
English
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29 January 2021
Macro-financial scenario for the 2021 EU-wide banking sector stress test
29 January 2021
ESRB response to the European Commission consultation on the review of AIFMD
13 January 2021
Adverse scenario for the ESMA money market fund stress-testing guidelines in 2020

Details

The ESRB has today published the adverse scenario as input into ESMA’s updated stress testing guidelines for managers of money market funds under Article 28 of the MMF Regulation. The scenario, which was approved by the General Board of the ESRB during its meeting on 24 September 2020 highlights adverse conditions that are relevant to this sector.

18 December 2020
Recommendation of the European Systemic Risk Board of 15 December 2020 amending Recommendation ESRB/2020/07 on restriction of distributions during the COVID-19 pandemic (ESRB/2020/15)
8 December 2020
Recommendation of the European Systemic Risk Board of 4 December 2020 regarding Norwegian notification of its intention to set a systemic risk buffer rate in accordance with Article 133 of Directive (EU) 2013/36/EU (ESRB/2020/14)
30 November 2020
Recommendation of the European Systemic Risk Board of 24 September 2020 on identifying legal entities (ESRB/2020/12)
17 November 2020
Opinion of the European Systemic Risk Board of 14 October 2020 regarding the Swedish notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2020/13)
English
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Report
English
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19 October 2020
Response letter to a consultation of the European Commission on the review of Solvency II
1 October 2020
Letter to European Commission and ESMA on procyclical impact of downgrades of corporate bonds on markets and entities across the financial system
12 August 2020
ESRB Secretariat staff’s response to ESMA’s consultation paper on technical standards on reporting, data quality, data access and registration of trade repositories under EMIR Refit
14 July 2020
Opinion of the European Systemic Risk Board of 19 May 2020 regarding the French notification of an extension of the period of application of a stricter national measure ESRB/2020/5
English
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Report
English
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25 June 2020
ESRB opinion on ESMA report on Central Clearing Solutions for Pension Scheme Arrangements
25 June 2020
ESRB opinion on ESMA report on post trade risk reduction services with regards to the clearing obligation

All publications

7 June 2021
Notification by Central Bank of Cyprus on LTV
7 June 2021
Notification by National Committee for Macroprudential Oversight (NCMO) Romania on recalibration of SyRB
7 June 2021
Notification by Danish Financial Supervisory Authority (Finanstilsynet) on seven other systemically important institutions (O-SII)
29 March 2021
Notification by Bank of Slovenia on six other systemically important institutions (O-SIIs)
29 March 2021
Notification by Poland's Minister of Finance on Article 124 CRR
22 February 2021
Notification by Austrian Financial Market Authority on the systemic risk buffer (SyRB) rate for twelve institutions
22 February 2021
Notification by the Prudential Regulation Authority (United Kingdom) on the systemic risk buffer (SyRB)
22 February 2021
Notification by Czech National Bank on the systemic risk buffer (SyRB)
22 February 2021
Notification by Finansinspektionen (Sweden) on the systemic risk buffer (SyRB)
22 February 2021
Notification by De Nederlandsche Bank (Netherlands) on the systemic risk buffer (SyRB)
22 February 2021
Notification from Hrvatska Narodna Banka (Croatia) on the systemic risk buffer (SyRB)
22 February 2021
Notification by the Norwegian Ministry of Finance on the systemic risk buffer (SyRB)
22 February 2021
Notification by Haut Conseil de Stabilité Financière (France) on the DSTI ratio and maturity recommendation for housing loans
22 February 2021
Notification by the Norges Bank on the DTI and LTV ratios, stress test, loan amortisation and speed limits
22 February 2021
Notification by Comité du Risque Systémique (Luxembourg) on loan-to-value (LTV) ratio limits
22 February 2021
Notification by the Norwegian Ministry of Finance on Article 458 of the CRR (on residential real estate)
22 February 2021
Notification by the Norwegian Ministry of Finance on Article 458 of the CRR (on commercial real estate)
22 February 2021
Notification by Finansinspektionen (Sweden) on Article 458 of the CRR
22 February 2021
Notification by the Bank of Greece on four other systemically important institutions (O-SIIs)
22 February 2021
Notification by the CBM and the MFSA (Malta) on four other systemically important institutions (O-SIIs)
22 February 2021
Notification by the Austrian Financial Market Authority on nine other systemically important institutions (O-SIIs)
22 February 2021
Notification by the Prudential Regulation Authority (United Kingdom) on fifteen other systemically important institutions (O-SIIs)
22 February 2021
Notification by De Nederlandsche Bank (Netherlands) on one global systemically important institution (G-SII)
22 February 2021
Notification by Banca d'Italia on one global systemically important institution (G-SII)
22 February 2021
Notification by the Czech National Bank on six other systemically important institutions (O-SIIs)

All publications

8 November 2021 RESEARCH

Alberto Giovannini Programme for Data Science

We are looking for scientists, policy experts and researchers in data science to conduct high-level research and develop innovative analytical tools. If you want to get involved, send your proposal for the Alberto Giovannini Programme for Data Science by 28 February 2022.

Publication

2021 edition of the Ieke van den Burg Prize

The annual prize of the ESRB’s Advisory Scientific Committee highlights outstanding young scholars’ research on topics related to systemic risk. This year’s award ceremony and the presentation of the winning paper took place virtually on 1 October.