European Central Bank Warns Banks of Unprecedented Risks
The ECB (European Union monetary authority) urges financial institutions across Europe to brace for risks described as without precedent in scale or nature.
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Terms & Concepts
European Central Bank (ECB): The central bank responsible for monetary policy and financial stability in the eurozone, comprising countries that use the euro currency.
Unprecedented risks: Potential threats to financial stability that are considered unmatched in scope or impact compared to historical events.