Measures taken in response to coronavirus (COVID-19) pandemic
23 July 2020 PUBLICATION

Analysis of large-scale corporate bond downgrade scenario

The ESRB published a technical note today summarising the findings of a top-down analysis that attempts to quantify the impact of a mass bond downgrade scenario on the financial system.

5 August 2020 PUBLICATION

Publication of the first ASC Insight

The Advisory Scientific Committee has published its first Insight, written by Javier Suarez and Willem Buiter, on the reform of bank stress tests in the EU.

12 August 2020
ESRB Secretariat staff’s response to ESMA’s consultation paper on technical standards on reporting, data quality, data access and registration of trade repositories under EMIR Refit
English
14 July 2020
Opinion of the European Systemic Risk Board of 19 May 2020 regarding the French notification of an extension of the period of application of a stricter national measure ESRB/2020/5
English
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FrançaisFR
Report
English
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FrançaisFR
25 June 2020
ESRB opinion on ESMA report on Central Clearing Solutions for Pension Scheme Arrangements
English
25 June 2020
ESRB opinion on ESMA report on post trade risk reduction services with regards to the clearing obligation
English
22 June 2020
Decision ESRB/2020/10 on the cancellation of certain reports on actions and measures taken pursuant to Recommendation ESRB/2014/1 and Recommendation ESRB/2015/2
English
Related
8 June 2020
ESRB letter to EIOPA on Liquidity risks in the insurance sector
English
8 June 2020
Recommendation of the European Systemic Risk Board on monitoring the financial stability implications of debt moratoria, and public guarantee schemes and other measures of a fiscal nature taken to protect the real economy in response to the COVID-19 pandemic (ESRB/2020/8)
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
Template 1 - Reporting templates under Recommendation B of Recommendation ESRB/2020/08 (PDF)
English
Template 2 - Reporting templates under Recommendation B of Recommendation ESRB/2020/08 (PDF)
English
Template 3 - Reporting templates under Recommendation B of Recommendation ESRB/2020/08 (PDF)
English
Compliance assessment template of Recommendation A and B ESRB/2020/08 (Word document)
English
8 June 2020
Recommendation of the European Systemic Risk Board on restriction of distributions during COVID-19 pandemic (ESRB/2020/7)
English
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Compliance assessment template of Recommendation ESRB/2020/7 (Word document)
English
8 June 2020
Recommendation of the European Systemic Risk Board on liquidity risks arising from margin calls (ESRB/2020/6)
English
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Compliance assessment template of Recommendation ESRB/2020/6 (Word document)
English
14 May 2020
ESRB letter to Governments on the financial stability impact of the national guarantee schemes and other fiscal measures
English
14 May 2020
Recommendation of the European Systemic Risk Board on liquidity risks in investment funds (ESRB/2020/4)
English
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ESMA public statement on Recommendation ESRB/2020/4
English
8 April 2020
Opinion of the European Systemic Risk Board of 26 February 2020 regarding Belgian notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2020/2)
English
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FrançaisFR NederlandsNL
Report
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FrançaisFR NederlandsNL
11 March 2020
Opinion of the European Systemic Risk Board of 6 February 2020 regarding Dutch notification of a stricter national measure based on Article 458 of the CRR (ESRB/2020/1)
English
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NederlandsNL
Report
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NederlandsNL
5 February 2020
Letter from the ESRB to the European Commission on shortcomings of the AIFMD framework
English
31 January 2020
Adverse scenario for the EBA 2020 EU-wide banking sector stress test

Details

The ESRB has today published the adverse scenario for the EU-wide banking sector stress test to be carried out by the EBA in 2020. This scenario, which has been approved by the General Board of the ESRB, highlights adverse conditions that are relevant to this sector. This information has also been published by the EBA as part of its communication on the 2020 EU-wide banking sector stress test.

English
Letter to Mr José Manuel Campa
English
17 January 2020
ESRB response to the EIOPA Consultation Paper on the 2020 review of Solvency II
English
13 December 2019
Recommendation of the European Systemic Risk Board of 26 September 2019 on exchange and collection of information for macroprudential purposes on branches of credit institutions having their head in another Member State or in a third country (ESRB/2019/18)
English
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Corrigenda of Recommendation ESRB/2019/18
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27 September 2019
Opinion of the European Systemic Risk Board of 25 July 2019 regarding Finnish notification of an extension of the period of application of a stricter national measure based on Article 458 of the CRR (ESRB/2019/16)
English
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SuomiFI
Report
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SuomiFI
23 September 2019
ESRB/2019/09 on medium-term vulnerabilities in the residential real estate sector in Sweden
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
Cover letter
English
Response from the Ministry of Finance, Sweden
English
Response from the Government Offices of Sweden – Ministry of Finance, Sweden
English
23 September 2019
ESRB/2019/08 on medium-term vulnerabilities in the residential real estate sector in Finland
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Cover letter
English
Response from the Ministry of Finance, Finland
English

All publications

14 July 2020
Notification by the French Haut Conseil de stabilité financière (HCSF) on a stricter measure based on Article 458 of the CRR
English
8 April 2020
Notification by National Bank of Belgium on a stricter measure based on Article 458 of the CRR
English
11 March 2020
Notification by De Nederlandsche Bank on a stricter measure based on Article 458 of the CRR
English
14 February 2020
Notification by Národná banka Slovenska (National Bank of Slovakia) on tightening the limit on DSTI
English
14 February 2020
Notification by Bank of Slovenia on macroprudential restrictions on household lending
English
14 February 2020
Notification by Banco de Portugal (Bank of Portugal) on amendment to the macroprudential Recommendation on new credit agreements for consumers
English
14 February 2020
Notification by the Financial Market Authority of Liechtenstein on systemic risk buffer
English
14 February 2020
Notification by Bank of Slovenia on seven other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by Finansinspektionen of Sweden (Bank of Sweden) on four other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by National Committee for Macroprudential Oversight of Romania on nine other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Banco de Portugal (Bank of Portugal) on six other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by Komisja Nadzoru Finansowego (Polish Financial Supervision Authority) on nine other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by De Nederlansche Bank (Bank of the Netherlands) on systemic risk buffer and on five other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by the Central Bank of Malta and the Malta Financial Services Authority on four other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by the Financial and Capital Market Commission of Latvia on four other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by Commission de Surveillance du Secteur Financier of Luxembourg on eight other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Lietuvos Bankas (Bank of Lithuania) on three other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by the Financial Market Authority of Liechtenstein on three other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by Banca d’Italia on four other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Central Bank of Ireland on six other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Magyar Nemzeti Bank (Bank of Hungary) on eight other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Hrvatska narodna banka (Croatian national bank) on seven other systemically important institutions (O-SIIs)
English
14 February 2020
Notification by Bank of Greece on four other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by the Autorité de Contrôle Prudentiel et de Résolution (the Prudential Supervisory and Resolution Authority of France) on six other systematically important institutions (O-SIIs)
English
14 February 2020
Notification by Banco de Espana on five other systematically important institutions (O-SIIs)
English

All publications

NATIONAL POLICY

Interactive map on countercyclical capital buffers

The countercyclical capital buffer (CCyB) is a macroprudential instrument that aims to counter pro-cyclicality in the financial system. The interactive map shows the CCyB rates currently applicable in Europe and is continuously updated.

PUBLICATION

Macroprudential policy measures in Europe

The ESRB has updated its overview of national measures of macroprudential interest in the EU and the European Economic Area. The overview covers capital buffers, reciprocation measures and various other measures. It was last updated on 19 March 2020.

Multimedia

  • ESRB Annual Report 2018

  • A Review of Macroprudential Policy in the EU in 2018

  • Macroprudential approaches to non-performing loans

  • CCP interoperability arrangements