US: Office of Financial Research Issues 2017 Annual Reports

On December 5, 2017, the Office of Financial Research (OFR) published the 2017 Annual Report to Congress and the 2017 Financial Stability Report. According to the reports, the OFR estimates that overall risks to financial stability are moderate, and it has introduced two new tools to better inform assessment: the financial system vulnerabilities monitor and the financial stress index.

The vulnerabilities monitor provides a warning on early stages of potential vulnerabilities to financial system. It identifies risk in six categories: (1) macroeconomic, (2) market, (3) credit, (4) solvency and leverage, (5) funding and liquidity, and (6) contagion.

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