【环球财经】欧洲央行报告称关税带来的金融稳定风险依然高企

Core Insights - The European Central Bank (ECB) has highlighted that financial stability vulnerabilities in the Eurozone remain high due to uncertainties surrounding trade agreements and the long-term impacts of tariffs [1][2] Group 1: Financial Stability Risks - Financial stability vulnerabilities are still at elevated levels, with high asset valuations posing a risk of significant adjustments that could challenge non-bank financial institutions [2] - The fiscal outlook for some developed countries is under pressure, raising concerns in the market that could impact the global bond market and weaken the Eurozone's competitiveness [2] - The banking system faces credit and financing risks, particularly related to exposure to companies sensitive to tariffs, which could challenge banks during economic downturns [2][3] Group 2: Economic and Structural Challenges - Despite improvements in the balance sheets of Eurozone businesses and households, the corporate sector remains vulnerable to tariff impacts, which could affect household debt repayment capacity [3] - Structural challenges such as slow digitalization, low productivity, population aging, and climate change may pressure asset balance sheets and increase financing costs [2] - The ECB emphasizes the importance of maintaining and enhancing the resilience of the financial system in the current uncertain macro-financial and policy environment [4]