2025-06-05

Report of the Financial Stability Committee of 24 March 2025

The Dutch Financial Stability Committee (FSC), comprising the AFM, DNB, and the Ministry of Finance, identifies geopolitical tensions, trade fragmentation, and rising sovereign debt as primary threats to financial stability. The committee emphasizes the critical need for robust international cooperation, effective macroprudential regulation of non-bank financial institutions, and the completion of the European Savings and Investments Union to ensure market resilience. Additionally, the FSC warns that while temporary defense spending increases may be necessary, they require strict limits and structural economic reforms to prevent long-term fiscal risks and market volatility.

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Netherlands

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