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Financial stability report : june 2018

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      <subfield code="a">Financial stability report </subfield>
      <subfield code="b">: june 2018</subfield>
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      <subfield code="a">The euro area economy continues to remain in a recovery path despite global and domestic uncertainties. Fragilities in the financial market became evident after equity corrections occurred in the beginning of the year. Although the impact on European markets was relatively limited, the combination of a persistent low yield environment and high uncertainties - such as the ongoing negotiations on Brexit, the rising tendencies towards protectionism across the globe and several elections in Europe - still contributes to the risk of a sudden yield spike scenario. In addition, climate related risks are becoming more pronounced for the financial sector. Weather-related disasters are not only becoming more severe but are also occurring more frequently. The emerging climate risks pose threats in particular for the insurance industry, as insurers act simultaneously as investors and underwriters. However, they also present business opportunities as demand for weather hedging is growing, while technological advances bring better risk modelling techniques and improved data quality to assess the underlying risk. Several initiatives launched at both the European and global level on greening the financial sector should stimulate the trend towards sustainable insurance further</subfield>
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      <subfield code="a">Mercado de seguros</subfield>
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