In the second half of 2023 the German financial system proved stable despite the existence of high vulnerabilities. However, uncertainty remains high in view of interest rate rises, a clouded growth outlook, increased cyber risks and geopolitical conflicts.

The Bundesbank published its annual Financial Stability Review on 23 November 2023. In the review the Bundesbank explains vulnerabilities in the German financial system and highlights risks to its stability.

The European Central Bank (ECB) published its semi-annual Financial Stability Review on 22 November 2023. This provides an overview of potential risks to financial stability in the euro area.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q2 2023.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q1 2023.

The Financial Stability Committee (FSC) presents the German Bundestag its tenth report, covering the reporting period from 1 April 2022 to 31 March 2023. The FSC dealt with developments in the risk situation and resilience of the German financial system as well as the adequacy of the package of macroprudential measures. Amongst other things, the FSC looked at risks that financial stability might …

According to the ECB’s May 2023 Financial Stability Review, the risks to financial stability have remained elevated since November 2022. Although euro area growth expectations for 2023 have been revised upwards, risks to inflation and other risks are still tilted to the upside. Targeted macroprudential measures are contributing strongly to the stability of the financial system.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q4 2022.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q3 2022.

The European Systemic Risk Board (ESRB) published a recommendation on vulnerabilities in the European commercial real estate sector on 25 January 2023 (ESRB/2022/09). The recommendation is addressed to microprudential and macroprudential supervisory authorities and to the European Commission.