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    Stress In Financial Markets Is Now The Most Extreme Since The Financial Crisis — And

    The info contained on this publication has been compiled from publicly obtainable information released by the European Central Financial institution, European Commission, Eurostat, the European Banking Authority, national competent authorities and members of the European Banking Federation. The robust dependence of European economies on banks is further evident within the financing mix of non-financial corporations. For instance, in 2018, SMEs acquired 47{4bae5313c1ffa697ce99995897f7847f1ebf3bca0fb7c37396bb602eb24323d3} of their financing from bank loans and only 12{4bae5313c1ffa697ce99995897f7847f1ebf3bca0fb7c37396bb602eb24323d3} from equity (the latter being raised on the capital marketsas recognized in the SAFE report). The importance of financial institution financing is a selected characteristic of the financial institution-based European financial system and can be in contrast with economies…

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