The European Securities and Markets Authority (ESMA) has published its second risk dashboard for 2014 which provides a snapshot of risk issues in the period from 1 January 2014 to 31 March 2014. The dashboard covers the following:

• systemic stress indicators rose from a position of relative calm in EU financial markets, mirroring a re-emergence of heightened uncertainty at both global and EU levels;
• liquidity risk remained broadly stable, with signals continuing to be mixed;
• market risk rose as the uncertainties of an uneven recovery, and their implications for likely policy reactions, intensified at both global and EU levels;
• EU contagion risk remained broadly stable, though its nature appeared to shift; and
• credit risk remained high, with the build-up of risks in new areas offsetting the continued improvement in others.

View ESMA Risk Dashboard No. 2, 16 May 2014