The SAFE Policy Center and the Center for Economic and Policy Research (CEPR) organized a policy web panel:

Presentation and Discussion of the May 2021 ECB Financial Stability Review

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

Moderator of the Q&A: Loriana Pelizzon
(Leibniz Institute for Financial Research SAFE)

00:00:00 Introduction
00:06:04 Presentation by John Fell
00:30:23 Discussion

The May 2021 FSR assesses financial stability vulnerabilities in the euro area and their implications for financial market functioning, debt sustainability, bank profitability and the non-bank financial sector. Risks to financial stability in the euro area remain elevated and have become more unevenly distributed. The pandemic has imposed higher costs on some vulnerable euro area countries with larger services sectors, which in turn implies a greater need for continued policy support and growing interconnections between their government, corporates and banks. Against this background, the May 2021 issue of the Financial Stability Review features topical analyses on, among others, contingent liabilities, credit risk transmission during the pandemic and corporate zombification.

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