Summary:
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.
Key points:
1. Financial System Vulnerabilities: May 2021 report shows high investor risk appetite and elevated asset prices. Corporate debt is a concern, especially in pandemic-hit sectors, with defaults posing a risk to the financial system.
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