CFA Institute Systemic Risk Council Publishes 2022 Annual Report

For further information contact Kurt Schacht at

WASHINGTON, D.C.— January 27, 2023 The CFA Institute Systemic Risk Council today released its 2022 Annual Report.

This annual report recaps the activities of the CFA Institute Systemic Risk Council (SRC or the Council) and highlights the key systemic debates and challenges affecting global markets and regulators. Over the past year, global markets have experienced a cacophony of economic challenges not seen in decades. The year began with meager inflation and record low interest rates and equity markets near all-time highs. The prospects for 2022 looked economically enticing. Yet, over the course of just a few short months, the fortunes of a complex global economy were soon buffeting spiking inflation and geopolitical shocks. This annual report recaps a year of tumultuous economic shifts and the prospects for a world economy confronted with challenges not seen since the Great Financial Crisis.

Topics covered in this annual report include:

  • Crypto Regulation: Sounding the Alarm for Regulatory Clarity and Legislative Action
  • Money Market Funds: Systemic Vulnerabilities Persist
  • Climate Change: When Does It Become Systemic?
  • The Ukraine Conflict: Continuing Systemic Implications
  • The Great Inflation Unwind: Potential Breakage


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.