CFA Institute Systemic Risk Council Publishes Summer 2025 Quarterly Report

WASHINGTON, D.C. – September 8, 2025

For more than a decade, the Systemic Risk Council (SRC) has provided an independent, noncommercial voice on global financial stability. By assessing vulnerabilities across markets and institutions, the Council offers nonpartisan guidance on how regulators can strengthen systemic oversight. Recent market shocks — from post-crisis stress events to new geopolitical and trade disruptions — have reinforced both the resilience of financial reforms and the limits of current safeguards, underscoring the need for vigilance, learning, and preparedness.

As we reach mid-2025, systemic risks remain elevated. Central bank independence, the rapid growth of non-bank financial intermediaries, and efforts to ease capital standards for global systemically important banks all pose challenges to stability. Meanwhile, geopolitical uncertainty, shifting trade policies, and the accelerating speed of financial markets magnify potential vulnerabilities. In this environment, robust monitoring, credible data, and sustained international cooperation are critical. The SRC will continue to evaluate these risks and provide timely recommendations, as reflected in this Summer 2025 report.

SRC Quarterly Systemic Risk Report Summer 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.