Page 54 - 期货和衍生品行业监管动态（2023年9月刊）
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期货和衍生品行业监管动态
• 金融机构和监管机构应了解并密切关注通胀风险的影响。通胀对金融机
构的影响不仅体现在对资产质量和估值的影响上，还体现在因利率上升
和其他渠道导致的支出增加和融资成本上升上；
• 金融机构应高度重视有效的风险管理和治理安排，尤其是与流动性风险
和利率风险有关的安排，美国和瑞士最近出现的问题就凸显了这一点。
金融机构需要对未来利率大幅变动的影响保持应变能力。
ESAs Warn of Risks Resulting from a Fragile Economic Outlook (2023/9/18)
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs)
today issued their Autumn 2023 Joint Committee Report on risks and vulnerabilities in
the EU financial system. The Report underlines the continued high economic
uncertainty. The ESAs warn national supervisors of the financial stability risks
stemming from the heightened uncertainty, and call for vigilance from all financial
market participants.
Recent years have presented a series of adverse events, i.e., the Russian aggression
against Ukraine, the energy crisis, and US mid-sized banks turmoil in March 2023,
which most financial institutions have navigated well. Nonetheless, the European
economy continues to experience a period of heightened uncertainty which presents
material financial stability risks that necessitate vigilance from all financial market
participants. The economic outlook remains fragile, not least amid persistently elevated
geopolitical risks, high inflation, and an uncertain macro-financial outlook.
Market implications from turmoil in the banking sector in March also highlight
the continuing sensitivity of the European financial system to exogenous shocks and
the high ongoing market uncertainty. Market nervousness and bad news about parts of
the financial system could spread rapidly and lead to a general jump in risk aversion.
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