| ESAs warn of risks resulting from a fragile economic outlook
September 18, 2023--The three European Supervisory Authorities (EBA, EIOPA and ESMA- ESAs) today issued their Autumn 2023 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report underlines the continued high economic uncertainty. |
| The ESAs warn national supervisors of the financial stability risks stemming from the heightened uncertainty, and call for vigilance from all financial market participants. Recent years have presented a series of adverse events, i.e., the Russian aggression against Ukraine, the energy crisis, and US mid-sized banks turmoil in March 2023, which most financial institutions have navigated well. Nonetheless, the European economy continues to experience a period of heightened uncertainty which presents material financial stability risks that necessitate vigilance from all financial market participants. The economic outlook remains fragile, not least amid persistently elevated geopolitical risks, high inflation, and an uncertain macro-financial outlook. |
| ESAs warn of risks from economic and geopolitical events September 10, 2024--The three European Supervisory Authorities (EBA, EIOPA and ESMA-ESAs) today issued their Autumn 2024 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report underlines ongoing high economic and geopolitical uncertainties. |