According to the ECB’s November 2022 Financial Stability Review, the risks to financial stability have risen further since May 2022. The probability of recession has increased substantially. Macroprudential buffers are contributing to the financial system’s stability.

The ESRB issued a warning about risks to EU financial stability (ESRB/2022/7). It calls for resilience in the financial system to be preserved or enhanced in order to support the economy if these risks materialise.

According to the ECB’s May 2022 Financial Stability Review, the war in Ukraine has increased the risks to financial stability. However, the European banking system has proved resilient. Challenges could also arise in relation to debt sustainability.

ESRB has published five warnings and two recommendations on medium-term residential real estate vulnerabilities and the assessment of compliance with recommendations issued in 2019 (ESRB/2021/10).

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).

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 Bundesbank published its annual Financial Stability Review on 25 November 2021. The review documents relevant developments as well as vulnerabilities in the German financial system and highlights risks to its stability.

The semi-annual Financial Stability Review finds that financial stability risks from the pandemic have lessened in the near term, but vulnerabilities are building up ahead.

The Federal Ministry of Finance has issued a new statutory instrument on the collection of financial stability data (FinStabDEV), which entered into force on 3 February 2021. It gives the Deutsche Bundesbank the power to collect relevant data on residential real estate lending on a regular basis. The additional data will strengthen macroprudential supervision and make it possible to deploy …

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