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Strengthening risk monitoring and policy for non-bank leverage

Author

Listed:
  • Grill, Michael
  • Molestina Vivar, Luis
  • O’Donnell, Charles
  • Wedow, Michael
  • Weistroffer, Christian

Abstract

Leverage in the non-bank financial intermediation (NBFI) sector can be a source of systemic risk and amplify stress in the wider financial system. Policymakers are currently considering ways to address NBFI leverage risks, with the focus on containing the build-up of such risks ex ante. To achieve this, authorities need a broad toolkit that allows them first to identify leverage risks and then to address them. Taking advantage of recent improvements in data availability, this edition of the Macroprudential Bulletin explores novel approaches to identifying risks and designing policies. In doing so, it contributes to the wider ongoing debate on addressing risks from NBFI leverage. JEL Classification: G11, G15, G23

Suggested Citation

  • Grill, Michael & Molestina Vivar, Luis & O’Donnell, Charles & Wedow, Michael & Weistroffer, Christian, 2025. "Strengthening risk monitoring and policy for non-bank leverage," Macroprudential Bulletin, European Central Bank, vol. 26.
    • Handle: RePEc:ecb:ecbmbu:2025:0026:1
    Note: 1280809
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    File URL: https://www.ecb.europa.eu//press/financial-stability-publications/macroprudential-bulletin/html/ecb.mpbu202501_01~8643146c81.en.html
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    More about this item

    Keywords

    Leverage; non-bank financial intermediation;

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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