ECB says financial system stress has fallen to pre-crisis levels

Euro zone financial sector stress has fallen to levels not seen since before the global financial crisis began in 2007, but the sector remains fragile, the European Central Bank said on Wednesday. In its semi-annual Financial Stability Review, the ECB said the key risks to euro zone financial stability are economic and financial shocks, tensions in government debt markets, global financial market turbulence and bank funding challenges in the euro zone periphery. "Indicators measuring systemic stress have fallen back to close to their pre-crisis levels," the ECB said in the report. "Stress indicators and euro area fundamentals suggest alleviation of financial market tensions, especially on the banks' funding side."

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