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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
02/09/2020 ESMA50-165-1287 ESMA report on trends, risks and vulnerabilities no.2 2020 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.6 MB
19/02/2020 ESMA50-165-1040 ESMA report on trends, risks and vulnerabilities no.1 2020 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
1.42 MB
04/02/2020 ESMA32-67-613 Report on amendments to ESMA Guidelines on enforcement of financial information Transparency Final Report PDF
272.06 KB
10/09/2019 ESMA50-165-8 ESMA report on trends, risks and vulnerabilities no.2 2019 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.31 MB
03/05/2019 ESMA35-43-1737 Final report on integrating sustainability risks and factors in the MIFID II Audit, MiFID - Investor Protection, Sustainable finance Final Report PDF
371.73 KB
11/04/2019 ESMA31-67-127 Question and answers on Transparency Directive (TD) Brexit, Corporate Disclosure, Corporate Finance, Supervisory convergence, Transparency Q&A PDF
352.79 KB
28/02/2019 ESMA50-165-737 ESMA report on trends, risks and vulnerabilities no. 1 2019 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.24 MB
06/09/2018 ESMA 50-165-632 ESMA report on trends, risks and vulnerabilities 2, 2018 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
3.7 MB
20/03/2018 ESMA50-165-538 ESMA report on trends, risks and vulnerabilities 1, 2018 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
3.24 MB
06/11/2017 ESMA50-165-416 Report on Trends, Risks and Vulnerabilities No.2 2017- correction Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.89 MB

ERRATUM - In TRV 2 2017,  p.39 table V.3, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.
20/03/2017 ESMA50-165-279 Report on Trends, Risks and Vulnerabilities No.1, 2017 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.73 MB
30/08/2016 2016/1234 Report on Trends, Risks and Vulnerabilities No.2, 2016 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
3.07 MB
17/03/2016 2016/348 Report on Trends, Risks and Vulnerabilities No.1, 2016 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
3.13 MB
22/12/2015 2015/WP/2015/2 Working Paper No.2, 2015 “Monitoring systemic risk in the hedge fund sector” Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
872.37 KB

The working paper proposes new measures for systemic risk in the hedge fund sector. These measures are based on the ability of hedge funds to influence (be influenced by) the performance trend of the entire hedge fund sector. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and deliver an innovation in the monitoring of systemic risks in the fund industry.
14/09/2015 2015/1290 Report on Trends, Risks and Vulnerabilities No.2, 2015 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.88 MB
05/05/2015 JC/2015/007 Joint Committee Report on Risks and Vulnerabilities in the EU Financial System Risk Analysis & Economics - Markets Infrastructure Investors, Joint Committee Final Report PDF
692.05 KB		 The Joint Committee of the European Supervisory Authorities (ESAs) published its fifth Report on Risks and Vulnerabilities in the EU Financial System. Overall, the report found that in the past six months, risks affecting the EU financial system have not changed in substance, but have further intensified. The EU’s economic performance improved slightly in early 2015, however the financial sector in general continues to be affected by a combination of factors such as low investment demand, economic uncertainty in the Eurozone and its neighbouring countries, a global economic slow-down and a low-interest rate environment. The main risks affecting the financial system remain broadly unchanged from those identified in the report’s previous edition, but have become more entrenched. The major risks include: • Low growth, low inflation, volatile asset prices and their consequences for financial entities; • Search for yield behaviour exacerbated by potential rebounds; • Deterioration in the conduct of business; and • Increased concern about IT risks and cyber-attacks.
11/03/2015 2015/527 ESMA Risk Dashboard No 1 2015 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
798.36 KB
11/03/2015 2015/526 Report on Trends, Risks and Vulnerabilities No 1 2015 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
2.59 MB
17/12/2014 ECO-2014/1 ESMA's Economic Report No 1, 2014- High-frequency trading activity in EU equity markets Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
1.87 MB
14/11/2014 2014/1341 ESMA Risk Dashboard No. 4, 2014 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
766.77 KB		 The European Securities and Markets Authority (ESMA) has today published its Risk dashboard for the third quarter of 2014. ESMA’s Risk Dashboard assess the risks associated to European financial markets looking into liquidity, market, contagion and credit risks. The Dashboard finds that in 3Q14 EU systemic stress indicators increased, after experiencing a calm 2Q14. Contagion risk augmented and liquidity and market risk remained on high levels, with potential for further increases ahead. Credit risk receded though remaining at a high level. Overall, market sentiment continued to be at odds with sluggish economic fundamentals and guarded expectations. An environment of ultra-low interest rates supported markets and preserved the current hunt-for-yield behaviour of investors. However, markets recognised resulting new balance sheet risks, as risk spreads increased, equity valuation moderated and expectations for future short-term interest rates fanned out. Due to these offsetting forces liquidity risk and market risk remained stable, preserving the risk of critical market corrections for the future. The systemic impact of such corrections could be exacerbated by liquidity bottlenecks, such as might arise from structural factors such as thin dealer markets or rising collateral requirements.

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