14:30-15:45 CET




Wednesday, May 25, 2022

In cooperation with

Energy and commodity price shocks, amplified by the Russian invasion of Ukraine, have weakened the post-pandemic economic recovery both in the euro area and globally. Euro area sovereigns, corporates and households, after just having weathered the challenges from the pandemic, are facing new pressures that could test debt sustainability for the more highly indebted groups. While banks have shown striking resilience to the pandemic shock, the probability of credit and interest rate risks materializing has increased. Market functioning has been largely orderly during recent volatility – what are the risks of further corrections? Non-banks, while having been effectively shielded from the pandemic, are now exposed to duration, credit, and liquidity risks – what might the global normalization of monetary policies amid an economic slowdown imply? These are among the topics addressed in this webinar where the ECB is going to present its latest Financial Stability Review. Experts from the BIS, IMF and Austrian Financial Market Authority are going to discuss the ECB’s findings and bring in their own perspectives. 

Financial Stability Review, May 2022

John Fell and Tamarah Shakir, Directorate General Macroprudential Policy and Financial Stability, ECB
(pdf presentation)

Stefan Avdjiev, BIS (pdf presentation) 
Patrick Darlap, FMA (pdf presentation)
Ranjit Singh, IMF (pdf presentation)

Ernest Gnan, Oesterreichische Nationalbank and SUERF Secretary General