May 2026

22 May 2026

Macroprudential policy and financial stability

Financial Stability Review – May 2026

On 20 May 2026 the Governing Council held an exchange of views on euro area financial stability issues on the basis of the May 2026 edition of the Financial Stability Review and authorised its publication on the ECB’s website. In addition to providing an overview of key financial stability vulnerabilities in the euro area, this edition includes four special features. The first explores how advanced artificial intelligence-based tools can enhance sentiment analysis; the second examines the divergence between the rising number of corporate bankruptcies and the low levels of aggregate non-performing loan ratios in euro area banks; the third assesses the effects of macroprudential policies on household credit and house prices; while the fourth looks at the exposures of the euro area financial system to private credit. The Financial Stability Review is scheduled to be published on…