ESMA updated its Risk Dashboard following the outcome of the UK Brexit referendum. The overall assessment of risk levels in EU markets under ESMA’s remit remain unchanged for the time being, characterised by continued very high credit and market risks.

The risk outlook, however, has changed for the current and next quarters with the uncertainty reflected in increased market, liquidity and contagion risks going forward, as political and event risks have intensified, and the macroeconomic environment may deteriorate. Any crystallisation of these risks may also impact other segments in the ESMA remit.