Trends, risks and vulnerabilities in financial markets

In order to safeguard financial stability it is necessary to identify, at an early stage, trends, potential risks and vulnerabilities stemming from the micro-prudential level, across borders and across sectors. Thereby particular attention is paid to any systemic risk posed by financial market participants, failure of which may impair the operation of the financial system or the real economy.

ESMA monitors and assesses such developments in the area of its competence and, where necessary, informs the European Parliament, the Council, the Commission, the other European Supervisory Authorities and the ESRB on a regular and, as necessary, on an ad hoc basis.

In cooperation with the ESRB, ESMA also initiates and coordinates Union-wide stress tests to assess the resilience of financial market participants to adverse market developments, and ensures that an as consistent as possible methodology is applied at the national level to such tests.

In order to perform its functions properly, ESMA conducts economic analyses of the markets and the impact of potential market developments.

On this basis, ESMA produces annually two reports on risk, trends and vulnerabilities.

Financial stability surveillance

Trends, Risks and Vulnerabilities
Trends, Risks and Vulnerabilities No. 2 September 2014
Trends, Risks and Vulnerabilities No. 1 March 2014
Trends, Risks and Vulnerabilities No. 2 September 2013
Trends, Risks and Vulnerabilities No. 1 February 2013
ESMA Risk Dashboard
ESMA Risk Dashboard No. 4 November 2014
ESMA Risk Dashboard No. 3
September 2014
ESMA Risk Dashboard No. 2
May 2014
ESMA Risk Dashboard No. 1 March 2014
ESMA Risk Dashboard No. 4 November 2013
ESMA Risk Dashboard No. 3 September 2013
ESMA Risk Dashboard No. 2 June 2013
ESMA Risk Dashboard No. 1 February 2013

Economic reports

Other FMA documents

Market data

To access other documents published in this area, please click here.

ESMA Working Papers

ESMA Working Papers
ESMA Working Paper No. 2
June 2014
ESMA Working Paper No. 1 June 2014