Page 55 - 期货和衍生品行业监管动态（2023年9月刊）

期货和衍生品行业监管动态

The increase in interest rates generated heterogeneous impacts on the financial

sector. This resulted in increased net interest income for banks, reduced profitability for

insurers and liquidity risks for the asset management sector.

Against the backdrop of these risks and vulnerabilities, the Joint Committee of the

ESAs advises national competent authorities, financial institutions and market

participants to take the following policy actions:

• financial institutions and supervisors should closely monitor the broader

impact from strong increases in policy interest rates and sudden rises in risk

premia and accounted for in risk management;

• financial institutions and supervisors should remain prepared for a

deterioration in asset quality in the financial sector. Supervisors should

continue to closely monitor asset quality and loan loss provisioning;

• financial institutions and supervisors should be aware of and closely monitor

the impact of inflation risk. Inflation not only impacts financial institutions by

its effects on asset quality and valuation, but also through rising expenditures

and rising funding costs as a result of higher interest rates and other channels;

• financial institutions should place high importance on effective risk

management and governance arrangements, in particular in relation to

liquidity risk and interest rate risk, as recent problems in the US and

Switzerland highlight. Financial institutions need to remain resilient to the

impact of future substantial interest rate changes.

https://www.esma.europa.eu/press-news/esma-news/esas-warn-risks-resulting-fragile-

economic-outlook

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