Euro area NBFI derivatives spike as ECB flags systemic risks
Cross-border claims surge 32% in Q4, with ECB report suggesting activity concentrated among few G-Sibs
Derivatives held by banks with non-bank financial institutions (NBFIs) in the Euro area as counterparties ballooned in the final quarter of 2025, hitting all-time highs on both sides of the balance sheet.
Derivatives claims on Euro area NBFIs jumped 31.7% in Q4 to $477.5 billion at year-end, while liabilities shot up 88.6% to $210.7 billion.
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