In a report on the risks and vulnerabilities of the EU financial system published on Friday 19 September, the three European supervisory authorities (‘EBA’, ‘EIOPA’ and ‘ESMA’) call for increased vigilance. Highlighting the way in which tensions in global trade and the international security architecture have heightened geopolitical uncertainties, the authorities are urging financial entities to build up and maintain adequate provisions.
“The European financial system has...