ESRB has published a policy recommendation aimed at increasing the resilience of money market funds based on the lessons learned on the financial market turmoil of 2020 (ESRB/2021/9). An additional report provides an impact assessment.

The Financial Stability Committee considers the German system to be stable, despite uncertainties such as Brexit and the possibility of an abrupt rise in interest rates. The Financial Stability Committee also addressed developments related to crypto-assets and the regulatory treatment of government bonds.

At its December meeting, the Financial Stability Committee (FSC) assessed the current risk situation in the German financial system. It concluded that macroprudential policy should return to prevention mode. Given the existing uncertainties over economic trends, the FSC will assess which instruments should be activated swiftly in 2022 to address the identified risks as effectively as possible.

The low interest rate environment is placing earnings pressure on many financial market players and poses a particular challenge to German life insurers. The Financial Stability Committee presented these and other topics in its first annual report to the German Bundestag on 18 June 2014.

In its fourth annual report to the German Bundestag, the Financial Stability Committee addressed the divergence between US and EU monetary policy and the impact of cyberattacks on the German financial system.

The German Financial Stability Committee (FSC) has analysed which macroprudential instruments currently most effectively address the risks identified in the financial system. The FSC welcomes the package of macroprudential measures announced by the Federal Financial Supervisory Authority (BaFin).

At its meeting on 27 May 2019, the Financial Stability Committee recommended that the Federal Financial Supervisory Authority (BaFin) activate the domestic countercyclical capital buffer (CCyB) starting in the third quarter of 2019 and increase it from zero to 0.25 per cent within 12 months.

Next to assessing the current risk situation in the German financial system, the Financial Stability Committee also discussed the introduction of the countercyclical capital buffer as a new macroprudential instrument. It noted that the sustained low interest rates in particular could remain the starting point for a variety of potential negative developments. This continues to require careful …

The time series for the indicators used to set the CCyB have been updated. The time series are now available for Q1 2020.

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