by Monica Balan and Raihan Zamil Periodic episodes of banking sector distress invariably expose weaknesses in banks’ governance and risk management and shortcomings in supervision. A recurring challenge for supervisory authorities (SAs) is the lack of an explicit framework to define, manage, and communicate their tolerance for supervisory risk: the risk that supervisory actions or inaction fail to[…]

By Nina Boyarchenko and Leonardo Elias The global corporate nonfinancial bond market is both a large investment asset class and a vital source of funding for nonfinancial firms. With $19 trillion outstanding at the end of 2024, a broad portfolio of corporate bonds would be expected to be well diversified. Yet, in 37 percent of[…]

by Simone Arrigoni, Agustin Benetrix, Tara McIndoe-Calder and Davide Romelli This Policy Brief explores the link between household financial holdings and demographic characteristics through the lens of a novel dataset that combines granular asset-level information from the Securities Holdings Statistics (SHS) with household-level characteristics from the Household Finance and Consumption Survey (HFCS). By integrating these[…]

by Lara Coulier, Cosimo Pancaro, Livia Pancotto & Alessio Reghezza How do banks manage the behavioural maturity of non-maturing deposits (NMDs)? Although NMDs are contractually floating-rate liabilities with zero maturity, banks allocate them across different maturity buckets using models that reflect past depositor behaviour. Notably, only 20% of NMDs are treated as having zero maturity,[…]

by Madalen Castells-Jauregui, Dmitry Kuvshinov, Björn Richter & Victoria Vanasco Our study documents the central role of the foreign sector in the market for safety and explores its macroeconomic implications. Using new data for advanced economies since 1980, we show that foreign demand for safe assets has steadily increased, and that is has been mainly[…]

European Central Bank Press Release Link: Press Release: Governing Council proposes simplification of EU banking rules (December 2025)

BIS Quarterly Review | 08 December 2025by Patrick McGuire, Andreas Schrimpf and Goetz von Peter Link: BIS Quarterly Review | Foreword: Shifting currents in FX and interest rate derivatives: highlights from the 2025 Triennial Survey

European Central Bank Press Release Link: Press Release: Climate change indicators (November 2025)Data: Climate change-related indicators

Published as part of the Macroprudential Bulletin 32Prepared by Alberto Grassi, Michael Kosiahn, Chiara Lelli, María Losa Martín, Michael Moers, Matthias Sydow, Michael Vincent and Garbrand Wiersema “This article expands on the 2025 EU-wide stress test by incorporating a system-wide perspective to capture contagion risks across investment funds and insurance corporations alongside the banking sector.[…]

FSI Brief by Claudio Borio, Rodrigo Coelho, Fernando Restoy and Nikola Tarashev Link: FSI Brief |  No 28: Revisiting the regulatory capital stack