The SAFE Policy Center and the Center for Economic and Policy Research (CEPR) cordially invite you to attend the
Presentation and Discussion of the November 2021 ECB Financial Stability Review
John Fell
(Deputy Director General Macroprudential Policy & Financial Stability, ECB)
Moderator of the Q&A: Loriana Pelizzon
(Leibniz Institute for Financial Research SAFE)
Watch the video on our YouTube channel
Download the slides (pdf)
The recent economic recovery in the euro area has reduced many of the worst fears over economic scarring and rising credit risk. But risks from the pandemic have not disappeared entirely, not least because vaccination progress has remained slow in many areas of the world, while global supply chain pressures and rising energy prices pose new challenges to the strength of the recovery and the outlook for inflation. Meanwhile, a number of medium-term vulnerabilities have intensified, amid a legacy of higher debt. Against this backdrop, the November 2021 Financial Stability Review (FSR) assesses the financial stability vulnerabilities and their implications for financial market functioning, debt sustainability, bank profitability and the non-bank financial sector in the euro area.
The policy web seminar is a part of the SAFE-CEPR joint seminar series aiming at fostering debates on policy-relevant issues.
