SUERF webinar - ECB May 2023 Financial Stability Review - John Fell Hanna Westman Cristina Cella

On 1 June 2023, 150 international experts gathered for a presentation and discussion of the ECB’s May 2023 Financial Stability Review.
Sticky global inflation has required a sharp rise in interest rates worldwide, with uncertainty on how much further and for how long the interest hiking cycle will need to last in the euro area. The uncertain inflation and interest rate outlook also weighs on the real economic outlook. Refinancing for banks has become substantially more costly. Financing conditions for non-financial firms and for private households have tightened considerably. Real estate prices have ended their upward trend or are falling. European governments are going to feel higher debt servicing costs. Lending has strongly fallen against higher interest rates and real economic uncertainty. Recent unexpected turmoil in the US and Swiss banking sectors indicate fragility. Financial markets are volatile.
What does this global and European environment imply for financial stability in the euro area? Where are possible risks and sources of fragility? How to address them pre-emptively? The ECB’s May 2023 Financial Stability Review and this SUERF e-lecture analyze these and related developments in detail.
Timeline and speakers:
00:00:13 - Introduction Ernest Gnan, Secretary General, SUERF
00:02:20 - Presentation of key findings of the May 2023 ECB FSR by John Fell, Deputy Director General, Macroprudential Policy & Financial Stability, ECB.
00:29:59 - Discussion by Hanna Westman, Chief Economist, Finnish Resolution and Deposit Insurance Authority
00:43:04 - Discussion by Cristina Cella, Advisor, Financial Stability and Research Division, Sveriges Riksbank
00:57:13 - Q&A
01:08:56 - Ernest Gnan, closing and farewell
© SUERF 2023. Views are those expressed by speakers and not necessarily of their affiliated institutions. Slides of the presentations can be found at www.suerf.org/.... For more SUERF events see: www.suerf.org/.... For SUERF Policy Notes and Briefs see: www.suerf.org/.... Become a SUERF member: www.suerf.org/