• Publication
    Global dimensions of macroprudential policy

    The Advisory Scientific Committee of the ESRB has published a report on the risks of international financial integration for EU economies. The report also looks at macroprudential policy options that can address these risks.

7 January 2020 PRESS RELEASE

ESRB General Board meeting in Frankfurt

The General Board of the European Systemic Risk Board (ESRB) held its 36th regular meeting on 19 December 2019. The General Board discussed the main risks to financial stability in the EU.

20 February 2020 PUBLICATION

ESRB publishes report on systemic cyber risk

The latest ESRB report shows how a cyber incident could evolve into a systemic cyber crisis threatening financial stability. The ESRB has therefore identified cyber risk as a source of systemic risk to the financial system which may have serious consequences for the real economy.

5 February 2020
Letter from the ESRB to the European Commission on shortcomings of the AIFMD framework
31 January 2020
Adverse scenario for the EBA 2020 EU-wide banking sector stress test

Details

The ESRB has today published the adverse scenario for the EU-wide banking sector stress test to be carried out by the EBA in 2020. This scenario, which has been approved by the General Board of the ESRB, highlights adverse conditions that are relevant to this sector. This information has also been published by the EBA as part of its communication on the 2020 EU-wide banking sector stress test.

17 January 2020
ESRB response to the EIOPA Consultation Paper on the 2020 review of Solvency II
13 December 2019
Recommendation of the European Systemic Risk Board of 26 September 2019 on exchange and collection of information for macroprudential purposes on branches of credit institutions having their head in another Member State or in a third country (ESRB/2019/18)
27 September 2019
Opinion of the European Systemic Risk Board of 25 July 2019 regarding Finnish notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2019/16)
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Report
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23 September 2019
ESRB/2019/09 on medium-term vulnerabilities in the residential real estate sector in Sweden
23 September 2019
ESRB/2019/08 on medium-term vulnerabilities in the residential real estate sector in Finland
23 September 2019
ESRB/2019/07 on medium-term vulnerabilities in the residential real estate sector in the Netherlands
23 September 2019
ESRB/2019/06 on medium-term vulnerabilities in the residential real estate sector in Luxembourg
23 September 2019
ESRB/2019/05 on medium-term vulnerabilities in the residential real estate sector in Denmark
23 September 2019
ESRB/2019/04 on medium-term vulnerabilities in the residential real estate sector in Belgium
23 September 2019
ESRB/2019/14 on medium-term vulnerabilities in the residential real estate sector in Norway
23 September 2019
ESRB/2019/13 on medium-term vulnerabilities in the residential real estate sector in Iceland
23 September 2019
ESRB/2019/12 on medium-term vulnerabilities in the residential real estate sector in France
23 September 2019
ESRB/2019/11 on medium-term vulnerabilities in the residential real estate sector in Germany
23 September 2019
ESRB/2019/10 on medium-term vulnerabilities in the residential real estate sector in Czech Republic
28 August 2019
Opinion of the European Systemic Risk Board of 13 May 2019 regarding Estonian notification of a stricter national measure based on Article 458 of the CRR (ESRB/2019/2)
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19 August 2019
Recommendation of the european systemic Risk Board of 21 March 2019 amending Recommendation ESRB/2016/14 on closing real estate data gaps (ESRB/2019/3)
8 July 2019
Decision ESRB/2019/15 on the postponement of certain reports on actions and measures taken pursuant to Recommendation ESRB/2014/1 and Recommendation ESRB/2015/2
11 April 2019
ESRB Secretariat staff response to Insurance Europe’s position paper on the ESRB report on macroprudential measures in insurance

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14 February 2020
Notification by Národná banka Slovenska (National Bank of Slovakia) on tightening the limit on DSTI
14 February 2020
Notification by Bank of Slovenia on macroprudential restrictions on household lending
14 February 2020
Notification by Banco de Portugal (Bank of Portugal) on amendment to the macroprudential Recommendation on new credit agreements for consumers
14 February 2020
Notification by the Financial Market Authority of Liechtenstein on systemic risk buffer
14 February 2020
Notification by Bank of Slovenia on seven other systematically important institutions (O-SIIs)
14 February 2020
Notification by Finansinspektionen of Sweden (Bank of Sweden) on four other systemically important institutions (O-SIIs)
14 February 2020
Notification by National Committee for Macroprudential Oversight of Romania on nine other systemically important institutions (O-SIIs)
14 February 2020
Notification by Banco de Portugal (Bank of Portugal) on six other systematically important institutions (O-SIIs)
14 February 2020
Notification by Komisja Nadzoru Finansowego (Polish Financial Supervision Authority) on nine other systemically important institutions (O-SIIs)
14 February 2020
Notification by De Nederlansche Bank (Bank of the Netherlands) on systemic risk buffer and on five other systematically important institutions (O-SIIs)
14 February 2020
Notification by the Central Bank of Malta and the Malta Financial Services Authority on four other systemically important institutions (O-SIIs)
14 February 2020
Notification by the Financial and Capital Market Commission of Latvia on four other systematically important institutions (O-SIIs)
14 February 2020
Notification by Commission de Surveillance du Secteur Financier of Luxembourg on eight other systemically important institutions (O-SIIs)
14 February 2020
Notification by Lietuvos Bankas (Bank of Lithuania) on three other systemically important institutions (O-SIIs)
14 February 2020
Notification by the Financial Market Authority of Liechtenstein on three other systematically important institutions (O-SIIs)
14 February 2020
Notification by Banca d’Italia on four other systemically important institutions (O-SIIs)
14 February 2020
Notification by Central Bank of Ireland on six other systemically important institutions (O-SIIs)
14 February 2020
Notification by Magyar Nemzeti Bank (Bank of Hungary) on eight other systemically important institutions (O-SIIs)
14 February 2020
Notification by Hrvatska narodna banka (Croatian national bank) on seven other systemically important institutions (O-SIIs)
14 February 2020
Notification by Bank of Greece on four other systematically important institutions (O-SIIs)
14 February 2020
Notification by the Autorité de Contrôle Prudentiel et de Résolution (the Prudential Supervisory and Resolution Authority of France) on six other systematically important institutions (O-SIIs)
14 February 2020
Notification by Banco de Espana on five other systematically important institutions (O-SIIs)
14 February 2020
Notification by Eesti Pank (Bank of Estonia) on four other systematically important institutions (O-SIIs)
14 February 2020
Notification by Czech National Bank on six other systematically important institutions (O-SIIs)
14 February 2020
Notification by the Central Bank of Cyprus on six other systemically important institutions (O-SIIs)

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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 was last updated on 17 February 2020.

PUBLICATION

Macroprudential policy measures in Europe

The ESRB has updated its overview of national measures of macroprudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures and various other measures. It was last updated on 29 November 2019.

Multimedia

  • ESRB Annual Report 2018 - cover image

    ESRB Annual Report 2018

  • A Review of Macroprudential Policy in the EU in 2018 - cover image

    A Review of Macroprudential Policy in the EU in 2018

  • Macroprudential approaches to non-performing loans - cover image

    Macroprudential approaches to non-performing loans

  • CCP interoperability arrangements - cover image

    CCP interoperability arrangements