The Spring 2026 issue of the Systemic Risk Council (SRC) report provides a timely examination of how systemic risk is evolving across an increasingly complex and interconnected global financial system. Through insights from leading policymakers, regulators, and market experts, this edition explores the intersection of strong market performance and underlying structural vulnerabilities. The SRC’s mission […]

Simon Johnson, CFA Institute Systemic Risk Council cochair, talks with CNBC Squawk Box host Andrew Ross Sorkin on recent private credit disruptions and geopolitical events impacting systemic risk.  Johnson worries about the level of transparency and interconnectivity of private credit exposures to the regulated banking sector.

The 2025 Annual Report of the Systemic Risk Council outlines the Council’s important work to identify and address emerging threats to global financial stability. In a year marked by market volatility, geopolitical unrest, and rapid innovation in financial technology, the need for clear, independent analysis of systemic risk remains essential. The Council’s mission is to […]

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 […]

The CFA Institute Systemic Risk Council (SRC) announced today that Klaas Knot, former Chair of the Financial Stability Board and President of De Nederlandsche Bank, has joined the Council. Knot brings decades of experience in global financial stability and systemic risk oversight, strengthening the Council’s international perspective. Erkki Liikanen, Co-Chair of the Council, said: “We […]

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 […]

Since 2013, our Council has offered an independent, noncommercial voice to assess significant financial and economic disruptions and to make recommendations for building a more robust process for systemic risk oversight in the US, Europe, and elsewhere. The SRC provides an unvarnished assessment of the readiness of global regulatory institutions to deal with evolving systemic […]