Financial Stability Report
May 2021
Board of Governors of the Federal Reserve System
The report provides an assessment of the resilience of the U.S. financial system, examining vulnerabilities related to asset valuations, borrowing by businesses and households, leverage within the financial sector, and funding risks. It also discusses the financial system's performance during the COVID-19 pandemic, the impact of policy measures on stability, and potential risks to the financial system's outlook, including those arising from global developments.
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