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Financial Stability Review

The Financial Stability Review provides an overview of potential risks to financial stability in the euro area. It aims to promote awareness in the financial industry and among the public of euro area financial stability issues. It is published twice a year, with the next release provisionally set to 19 May 2021.

November 2020

At a glance

Vulnerable asset prices

Strength of some asset prices and possible market corrections

Balance sheet vulnerabilities

Growing fragilities in non-financial sectors

Lower bank profits

Weaker bank profitability amid expected higher credit losses

Higher risk‑taking

Renewed risk-taking by non-banks


Watch our latest findings

The pandemic continues to dominate the outlook for financial stability.

For the media

Vulnerabilities in the corporate sector are increasing as the pandemic evolves and their unearthing could test the resilience of euro area banks in the future.

Read the press release

Presentation slides

View the key messages and key findings as presented by Luis de Guindos in the press conference for the launch of the latest release.

Look at the slides

Full report

Explore in detail the latest sources of risk and vulnerabilities for the euro area financial system by reading the full report.

Read the report
Spotlight on financial stability

Find out more about related content

Macroprudential policies

The Macroprudential Bulletin provides insight into our work in the field of macroprudential policy. The aim of the Macroprudential Bulletin is to raise awareness of macroprudential policy issues in the euro area and to foster broader discussion on key macroprudential issues.

Macroprudential Bulletin

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