ESRB欧洲系统风险委员会：2026年银行与非银行金融中介部门关联带来的金融稳定风险（英文版）

Linkages between banks and non-bank financial intermediation (NBFI) entities need to be better understood by authorities responsible for safeguarding financial stability. Vulnerabilities related to leverage and liquidity in the NBFI sector have long been flagged as a financial stability concern. This report has been prepared jointly by the ESRB and the ECB with the aim of providing a better understanding of the financial stability implications of linkages between banks and NBFI entities in th