CFA Institute Systemic Risk Council Publishes Fall Edition of Quarterly Systemic Risk Report
WASHINGTON, D.C. – December 5, 2025
The Systemic Risk Council (SRC) provides an independent assessment of the most significant vulnerabilities shaping global financial stability. In this edition, the SRC underscores growing concerns around unresolved US stablecoin regulation, the rapid expansion of non-bank financial intermediaries, and recent shifts in large-bank capital requirements that may weaken essential safeguards. We note that with sentiment driven markets, we become desensitized to lingering geopolitical tensions and traditional economic fundamentals that signal caution. It is a perfect environment for market bubbles. This issue also features perspectives from leading US and EU regulatory officials on modernizing oversight frameworks, improving systemic-risk governance, and minimizing fragmentation. None of this comes easy in the face of increasingly interconnected financial, technological, and economic systems. Please enjoy the latest commentary on these and other systemic risk developments in this latest edition of the Quarterly Report.
SRC Quarterly Systemic Risk Report_Fall 2025
| About CFA Institute Systemic Risk Council CFA Institute Systemic Risk Council (Council) is a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to global systemic risk, with a particular focus on the United States and Europe. It has been formed to provide a strong, independent voice for reforms that are necessary to protect the public from financial instability. The goal is to help ensure a financial system in which we can all have confidence. CFA Institute Systemic Risk Council was formed by CFA Institute and The Pew Charitable Trusts in June 2012 to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk. CFA Institute became the sole supporting organization in August 2015. The statements, documents and recommendations of the Council does not necessarily represent the views of the supporting organization. |