This Handbook aims to assist macroprudential authorities in the European Union (EU) to operationalise instruments set out in the prudential rules for the EU banking sector. While some of the rules - commonly referred to as the Capital Requirements Directive (CRD IV) and the Capital Requirements...

The current macro-financial environment is characterised by exceptionally low, and even negative, nominal interest rates, which can have both a positive and a negative impact on the financial system and the economy. This report, in accordance with the mandate of the Task Force, discusses the...

We present a methodology based on quarterly sectoral accounts to build a map of the euro area financial system. The map can be used to visualise existing cross-sectoral interconnections and exposures, to analyse how the main bilateral positions have evolved over time, and to understand how past...

This Handbook aims to assist macro-prudential authorities in the European Union (EU) to operationalise instruments set out in the new prudential rules for the EU banking sector. While the rules - commonly referred to as the Capital Requirements Directive (CRD) and the Capital Requirements...

The ESRB Handbook on Operationalising Macroprudential Policy in the Banking Sector (ESRB (2014a)) provides detailed guidance to macroprudential authorities in the European Union (EU) on how to design and implement macroprudential policy for the banking sector. It is not binding on...

Cyber threats continue to pose significant risks to financial stability in the EU and beyond. The persistently heightened cyber threat environment in Europe is evidenced by the sabotage of undersea telecommunications cables, the disruptions to systems in large banks and third-party providers,...