Centro de Documentación de Fundación MAPFRE - Financial Stability Review, November 2019.

MAP20200001225

Financial Stability Review, November 2019. — Frankfurt : European Central Bank, 2019

Sumario: Macro-financial and credit environment - Weaker economic outlook amid elevated uncertainty - Near-term sovereign debt sustainability concerns mitigated by favourable financing conditions - Euro area households' resilience supported by low interest rates - Emerging pockets of corporate sector vulnerabilities - Diverging residential and commercial real estate cycles - Explaining cross-border transactions in euro area commercial real estate markets -- Financial Markets - Rally in safer asset markets - Riskier asset prices reliant on low rates - Valuations in corporate bond and equity markets -- Euro area banking sector - Increased challenges to the profitability of the sector - Implications of bank misconduct costs for bank equity returns and valuations - Climate risk-related disclosures of banks and insurers and their market impact - Evaluating the resilience of the euro area banking sector - The ECB's new euro area banking sector macro-micro model -- Non-bank financial sector - Non-banks increased risk-taking while facing profitability challenges in the low interest rate environment - Investment funds and the transmission of the global financial cycle to the euro area

1. Servicios financieros . 2. Mercados financieros . 3. Euro . 4. Espacio Económico Europeo . 5. Resiliencia . 6. Transacciones comerciales . 7. Vulnerabilidad . 8. Perspectivas económicas . 9. Financiación de los riesgos . I. Banco Central Europeo . II. Título.