The General Board of the European Systemic Risk Board (ESRB) held its 57th regular meeting on 27 March 2025. Commissioner Maria Luís Albuquerque, in the first General Board meeting following her appointment, focused on the European Commission’s priorities for the Savings and Investments Union. The General Board recognised that implementing these priorities swiftly would be key for better integrated financial markets across the EU and greater financial stability overall through improved economic growth prospects and greater diversification of funding channels.
Following its November 2024 meeting, the General Board observed that financial stability risks in the EU had remained elevated over the previous three months amid high political uncertainty and heightened geopolitical tensions. While markets had shown general resilience, the Board acknowledged that heavy trade restrictions or escalating geopolitical tensions could exacerbate macroeconomic, credit and market risks, leading, in turn, to higher corporate insolvencies and weaker household balance sheets. That said, markets had indeed been able to weather the increasing volatility, banks and other market participants had proved resilient and capital inflows had demonstrated that the EU was regarded across the globe as a safe destination for investment.