Financial Stability


It is only in the last decade or so that central banks around the world have begun to make financial stability an explicit goal or to measure the stability of their financial systems. This site is designed to give researchers, policymakers, and interested readers an overview of the topic along with resources that will help you stay abreast of developments in the area. Resources include:

Defining It. Financial stability has been the subject of many articles, speeches, conferences, and books, and yet its definition remains somewhat elusive. The term itself did not come into common usage much before 1996, when the Bank of England launched its Financial Stability Review. Most people, when pressed, would probably define it as the absence of financial instability or as the lack of systemic financial crises or panics. Perhaps the key point is systemic focus, in that the concern is not with the stability of a particular bank, firm, or household, but the financial system as a whole.  (Read more)

Related Articles and Speeches from around the Fed

Many recent speeches by Federal Reserve officials have touched on the subject, and the Federal Reserve Bank of Cleveland has devoted an annual report essay and several working papers and Economic Commentaries to the topic.

See all related articles

Financial Stability Reports

A variety of countries and international organizations produce financial stability reports. Links to many of them can be found on our financial stability reports page.

(See the full list of countries and find their reports.)