Regulatory monitoring: EU Version - February 2026

ESRB: Report on financial stability risks from linkages between banks and the non-bank financial intermediation sector - The ESRB published a report on financial stability risks from linkages between banks and the non-bank financial intermediation (NBFI) sector. The report focuses on bank funding from NBFI entities and credit exposure to NBFI entities as well as banks’ derivatives exposures to NBFI entities. It finds linkages between banks and the NBFI sector to be significant, and while they... By: A&O Shearman