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DRAFT REPORT (2025/2051(INI))

On safeguarding and promoting financial stability amid economic uncertainties

ECON-PR-771960

Committee on Economic and Monetary Affairs · Rapporteur: Johan Van Overtveldt

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✦ In short · AI summary of this text, generated 4 Sept 2026

Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

This draft report addresses financial stability amid economic uncertainties, covering capital markets union, macro-financial risks, banking sector stress, NBFI oversight, liquidity risks, and supervisory coordination. It calls for reforms to the Money Market Funds Regulation, full implementation of Basel III, and a holistic supervisory approach, while stressing the need for data sharing and international cooperation.

Committee position. The rapporteur proposes a resolution that welcomes the debate on capital markets union, calls for reforms to enhance financial stability, and stresses the need for robust supervision and crisis preparedness.

Key points

  1. Calls on the Commission to prioritise a Capital Markets Union agenda that supports EU competitiveness without hampering financial stability.
  2. Notes risks from integrated financial markets, including contagion and spillover, and stresses maintaining access to capital while preserving stability.
  3. Welcomes ECB efforts for price stability and ESRB's role; notes exposure to external shocks and risks of high sovereign debt.
  4. Highlights instability from highly leveraged institutions like hedge funds and stresses coordination among macroprudential supervisors.
  5. Emphasises full implementation of Basel III and a sound macroprudential framework for banks, with simplification and burden reduction.
  6. Calls for assessment of geopolitical risk exposure and review of regulatory gaps in less regulated areas like family offices and supply chain finance.
  7. Calls on the Commission to reform the Money Market Funds Regulation in line with international standards and ESRB/ESMA recommendations.
  8. Calls for tools to capture liquidity outflows from margin calls during systemic events, and for resilient clearing infrastructure and transparency in margining.
  9. Expresses concern over crypto-asset interlinkages, supports regulatory framework efforts, and encourages cyber-resilience investments.
  10. Supports a holistic, system-wide supervisory approach and emphasises the role of the Single Resolution Mechanism and ECB as lender of last resort.
  11. Warns against regulatory arbitrage, calls for addressing hidden leverage, and for qualitative data and enhanced data sharing among authorities.
  12. Calls for strengthened cooperation with international financial institutions like the IMF and FSB to tackle cross-border stability risks.

Who is affected

  • EU banks: full implementation of Basel III and a sound macroprudential framework.
  • Non-bank financial intermediaries, including hedge funds and family offices: subject to calls for oversight and regulatory gap review.
  • Money market funds: reform of the regulation in line with international standards.
  • Energy utilities and NBFIs: tools to capture liquidity outflows from margin calls.
  • Crypto-asset and decentralised finance markets: regulatory framework and classification harmonisation.

Figures and deadlines

  • NBFIs comprise over 40 % of the EU financial sector's assets.