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The General Board of the European Systemic Risk Board held its 47th regular meeting on 22 September 2022 (ESRB/2022/7)

The General Board concluded that risks to financial stability in the EU and the probability of tail-risk scenarios materialising have increased. The identified risks pertain to: (i) the deterioration of the macroeconomic outlook, (ii) risks to financial stability stemming from a (possible) sharp asset price correction, and (iii) the implications of such developments for asset quality.

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