The SAFE Policy Center and the Center for Economic and Policy Research (CEPR) organized a policy web seminar on 14 June 2022:

Presentation and Discussion of the May 2022 ECB Financial Stability Review

by John Fell
(Deputy Director for General Macroprudential Policy & Financial Stability,
European Central Bank)

Moderator of the Q&A: Loriana Pelizzon
(Leibniz Institute for Financial Research SAFE, Goethe University and CEPR)

00:00:00 Introduction
00:01:28 Presentation by John Fell
00:39:25 Discussion

The May 2022 issue of the ECB Financial Stability Review (FSR) has been published on the 25th of May. This issue of the FSR has been prepared against the backdrop of the devastating invasion of Ukraine. The war and the associated uncertainty have prompted some repricing in global financial markets – albeit thus far with much less dislocations than seen in March 2020 – and dampened the confidence of firms and consumers that are only just emerging from the tight restrictions imposed during the coronavirus pandemic. This implies additional challenges for indebted firms at a moment when some countries’ fiscal space is limited. With these developments in mind, this FSR assesses financial stability vulnerabilities and their implications for financial markets, debt sustainability, bank resilience, the non-bank financial sector and macroprudential policies.

https://safe-frankfurt.de/
https://cepr.org/