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 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 global Covid-19 pandemic led to the worst economic downturn in Germany in decades during the first half of 2020.

The European Systemic Risk Board (ESRB) has published a Recommendation for the establishment of a pan-European systemic cyber incident coordination framework (EU-SCICF) (ESRB/2021/17).

The European Central Bank (ECB) published its semi-annual Financial Stability Review on 16 May 2024. It provides an overview of potential risks to financial stability in the euro area.

The ESRB addresses its recommendations to national macroprudential supervisory authorities. In Germany, this is the function of the Financial Stability Committee. Accordingly, the Financial Stability Committee will participate in identifying, and sharing information related to, recommended fiscal policy actions in connection with Covid-19.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q2 2020.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q3 2020.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q4 2020.

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q1 2021.