The European Systemic Risk Board has published a report on macroprudential policy issues arising from low interest rates and structural changes in the EU financial system. In the report, the ESRB analyses the impact these issues may have on financial markets and the real economy over a long-term horizon. The ESRB has identified three main areas of risk related to financial stability: the sustainability of certain financial institutions' business models, broad-based risk taking, and the move towards a market-based financial system. The ESRB discusses a series of policy options to mitigate and prevent the emergence of the financial stability risks identified. The policy options are not to be taken as ESRB recommendations, but rather they are a set of proposals for further consideration by relevant stakeholders.