Joint Committee Report on risks and vulnerabilities in the EU financial system - Autumn 2025

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) today issued their Autumn 2025 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report highlights how tensions in global trade and the global security architecture have deepened geopolitical uncertainties. The authorities call for increased vigilance and urge financial entities to maintain adequate provisions in today’s tense and unpredictable environment.

The ESAs caution that sudden structural changes in global trade and security have led to a deterioration in the economic outlook in the first half of 2025. Despite the initial moderate impact of the US–EU preliminary trade agreement, risks to financial stability and the risk of further corrections remain.