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...

This paper describes the new European Systemic Risk Board (ESRB) database that contains information about the macroprudential measures applied by the authorities in the Member States of the European Union and in two countries of the European Economic Area. The database currently covers mainly...

Financial markets have been adapting to a low interest rate environment and undergoing major structural changes over the past decade. The changes have profoundly affected financial market functioning and structures, creating new vulnerabilities and systemic risks. This report considers the...

The level of interest rates is of major importance to financial market participants, including banks. In a context where interest rates remain low for a long period of time (in one scenario over a ten-year horizon), the impact on the EU banking sector could be quite significant. In particular,...

This paper sets out a policy strategy to address risks to financial stability wherever they arise in the financial system. While macroprudential policy for the banking sector is already operational, the policy strategy, data and instruments to address risks beyond the banking sector are...

On 2 December 2021, the General Board of the European Systemic Risk Board (ESRB) adopted recommendations on medium-term vulnerabilities in the residential real estate (RRE) sector in Germany (ESRB/2021/10)1 and Austria (ESRB/2021/11)2 , respectively. This compliance report (hereafter "the...

This report analyses misconduct risk in the banking sector from a macroprudential perspective. Misconduct risk refers to risks attached to the way in which a firm and its staff conduct themselves. As such, it includes how customers and investors are treated, mis-selling of financial products,...