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December 05, 2017

OFR published two reports examining risks to financial stability in the United States: the 2017 Annual Report to Congress and the 2017 Financial Stability Report. The reports highlight that the overall risks to financial stability remain moderate, similar to a year ago. Although financial-system resilience has improved, market risk remains elevated, particularly in the stock markets and bond markets, while cybersecurity vulnerabilities are also a concern.

2017 Financial Stability Report. This report presents the annual assessment of financial stability in the United States. The report highlights three potential threats to financial stability: vulnerability to cybersecurity incidents, resolution risks at systemically important financial institutions, and evolving market structure. The report notes that the overall financial stability risks remain in a medium range, although the market risks are elevated. The report also highlights that the OFR developed and released two new tools this year—the Financial System Vulnerabilities Monitor and the Financial Stress Index. The vulnerabilities monitor is a heat map that gives early warning signals of potential vulnerabilities that can originate, amplify, or transmit disruptions in the financial system whereas the stress index is a daily snapshot of stress in global financial markets.

2017 Annual Report to Congress. As required by the Dodd-Frank Act, the 2017 Annual Report to Congress assesses the state of the U.S. financial system. It covers analysis of threats to the financial stability of the U.S., key findings from the OFR’s research and analysis of the financial system and status of the efforts of OFR in meeting its mission. The annual report cites key findings on network analysis to identify cybersecurity vulnerabilities and operational risk, reducing regulatory reporting burdens, LIBOR alternative, Legal Entity Identifier (LEI); assessing the systemic importance of banks; and financial data services initiatives. Overall, the report concludes that resilience of the financial system in the U.S. has improved over the past year.

 

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Keywords: Americas, US, Banking, Financial Stability, Monitoring Tools, LEI, Risks and Vulnerabilities, Market Risk, Cyber Risk, OFR

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