NXS-GRX · GRX-IDX-FIN · MSF Macro-financial and structural fragility

Financial stability risk index

Expert-weighted Mazziotta-Pareto aggregation of the six financial sub-indices and the MAC macroeconomic instability sub-index, each on 0-10, with a penalty for unbalanced profiles.

Construction Simulator Indicators

Page GRX-IDX-FINEdition Baseline Edition 2026Evidence close 2026-09-30Indicator Standard IDX.FIN.capital.financial_stability_riskValues not yet publishedSnapshot 31a753f76

FIG 1 · Method card

Aggregation

mazziotta pareto

expert weights · floor 0.1 where geometric

Uncertainty

1,000 draws

normalisation, weights, aggregation

Structure

7 components

28 leaf indicators

Coverage

71% minimum

modelled share ≤ 20%

From the Indicator Standard definition of this index.

leaf indicators

components

1,000

Monte Carlo draws

series read it

01Construction

From indicators to the composite

A strong capital ratio does not offset a large FX mismatch or credit boom; the penalised aggregate keeps one weak pillar visible. Sub-indices are always shown beside the index.

computation

How Financial stability risk is computed

Graph38 nodes

Graph

01Indicators

02Sub-indices

03Domain index

04Pillar

05Composite

100%

List

Regulatory capital to risk-weighted assets
Indicator · IND · %
Total regulatory capital of the deposit-taking sector as a percentage of its risk-weighted assets, on the national implementation of the Basel framework.
Capital to total assets (leverage)
Indicator · IND · %
Tier 1 capital of deposit takers as a percentage of total (unweighted) assets.
Non-performing loans net of provisions to capital
Indicator · IND · %
Non-performing loans of deposit takers minus specific loan-loss provisions, as a percentage of capital.
Return on assets
Indicator · IND · %
Net income before extraordinary items and taxes of deposit takers as a percentage of average total assets.
Non-performing loans to total gross loans
Indicator · IND · %
Loans of deposit takers more than 90 days past due or otherwise impaired, as a percentage of total gross loans.
Provisions to non-performing loans
Indicator · IND · %
Specific loan-loss provisions of deposit takers as a percentage of non-performing loans.
Loan concentration by economic activity
Indicator · IND · %
Share of deposit takers' loans to resident non-financial corporations held in the two largest economic activities (ISIC sections).
Bank claims on general government, share of bank assets
Indicator · IND · %
Deposit takers' holdings of general government debt securities and loans to general government as a percentage of their total assets.
Liquid assets to total assets
Indicator · IND · %
Core liquid assets of deposit takers (cash, central-bank reserves, short-term marketable securities) as a percentage of total assets.
Liquid assets to short-term liabilities
Indicator · IND · %
Core liquid assets of deposit takers as a percentage of liabilities with residual maturity of one year or less.
Customer deposits to total non-interbank loans
Indicator · IND · %
Customer (non-interbank) deposits of deposit takers as a percentage of their non-interbank loans.
Liquidity coverage ratio
Indicator · IND · %
High-quality liquid assets of deposit takers as a percentage of total net cash outflows over a 30-day stress period, Basel III definition.
Net open foreign-exchange position to capital (absolute)
Indicator · IND · %
Absolute value of deposit takers' net open position in foreign currencies (long or short, including off-balance-sheet) as a percentage of capital.
Foreign-currency loans, share of total loans (credit dollarisation)
Indicator · IND · %
Loans of deposit takers denominated in or indexed to foreign currency as a percentage of total loans.
Foreign-currency deposits, share of total deposits (deposit dollarisation)
Indicator · IND · %
Deposits held with deposit takers in foreign currency as a percentage of total deposits.
Credit-to-GDP gap (BIS)
Indicator · IND · %
Deviation of the ratio of total credit to the private non-financial sector to GDP from its long-run trend (one-sided HP filter, lambda 400 000), in percentage points, quarterly.
Real growth of credit to the private sector
Indicator · IND · %
Year-on-year growth of deposit takers' credit to the private sector, deflated by consumer prices.
Household debt, share of GDP
Indicator · IND · %
Debt of households and non-profit institutions serving households (loans and debt securities) as a percentage of GDP.
Non-financial corporate debt, share of GDP
Indicator · IND · %
Debt of non-financial corporations (loans and debt securities) as a percentage of GDP.
Real residential property price growth
Indicator · IND · %
Year-on-year change in the residential property price index deflated by consumer prices.
House price-to-income ratio, deviation from long-run average
Indicator · IND · %
Ratio of nominal house prices to nominal disposable income per head, as a percentage deviation from its own long-run average.
Bank exposure to carbon-intensive sectors
Indicator · IND · %
Share of deposit takers' loans to non-financial corporations extended to carbon-intensive activities (fossil-fuel extraction, refining, fossil power, cement, steel, chemicals, aviation and shipping), NACE-mapped.
Bank lending exposed to high physical climate risk
Indicator · IND · %
Share of deposit takers' loans whose borrower operations or collateral lie in locations of high modelled physical climate hazard (Hazard Standard flood, storm, heat, wildfire, coastal), current climate.
Natural-catastrophe protection gap
Indicator · IND · %
Share of economic losses from natural catastrophes not covered by insurance, ten-year rolling average.
Volatility of real GDP growth (10-year)
Indicator · IND · %
Standard deviation of annual real GDP growth over the latest ten years with data.
Consumer price inflation
Indicator · IND · %
Annual percentage change in the consumer price index, period average.
Exchange-rate volatility (36-month)
Indicator · IND · %
Standard deviation of month-on-month log changes of the local-currency per US dollar rate over 36 months, annualised.
Unemployment rate
Indicator · IND · %
Share of the labour force without work but available for and seeking employment (ILO definition).
Banking-sector solvency sub-index
Sub-index · SUB · w 2 · 22.2%
Composite of regulatory capital to risk-weighted assets, capital to assets, unprovisioned NPLs to capital and return on assets.
Asset-quality stress sub-index
Sub-index · SUB · w 1.5 · 16.7%
Composite of the NPL ratio, provision coverage, sectoral loan concentration and bank exposure to the sovereign.
Funding and liquidity sub-index
Sub-index · SUB · w 1.5 · 16.7%
Composite of liquid assets to total assets, liquid assets to short-term liabilities, deposits to loans and the liquidity coverage ratio.
Foreign-exchange mismatch sub-index
Sub-index · SUB · w 1.5 · 16.7%
Composite of the absolute net open FX position to capital and credit and deposit dollarisation.
Credit and asset-price imbalance sub-index
Sub-index · SUB · w 1.5 · 16.7%
Composite of the BIS credit-to-GDP gap, real private-credit growth, household and corporate debt, and real house-price growth and overvaluation.
Climate-related financial exposure sub-index
Sub-index · SUB · w 0.5 · 5.6%
Composite of bank exposure to carbon-intensive sectors, lending exposed to high physical climate risk and the natural-catastrophe protection gap.
Macroeconomic instability sub-index
Sub-index · SUB · w 0.5 · 5.6%
Composite of growth volatility, inflation, exchange-rate volatility and unemployment.
Financial stability risk index
Domain index · IDX · mazziotta pareto
Expert-weighted Mazziotta-Pareto aggregation of the six financial sub-indices and the MAC macroeconomic instability sub-index, each on 0-10, with a penalty for unbalanced profiles.
Macro-financial and structural fragility
Pillar · PILLAR · 5 indices
How much fiscal, financial, external, digital and technological room does the system have before stress turns into crisis?
NXS-GRX Composite Risk
Composite · COMPOSITE · four pillars
Composite = (HTE × VUL × MSF × LCC)^(1/4), each pillar on 0–10 floored at 0.1; pillar = expert-weighted geometric mean of its domain indices

Not runIn progressDone

FIG 2. 28 indicators, 7 components, real Indicator Standard weights (the bar under each node is its share). Select a node to trace what it feeds and what feeds it; Simulate run plays the computation in order.

02Simulator

Run this index's own aggregation

Set each component, change the aggregation or the weight uncertainty, and watch the interval, the class probability and each component's contribution respond.

FIG 3 · Simulator: aggregate financial stability risk on your numbers

Components (0 to 10)

Banking-sector solvency sub-index · w 23.0

Asset-quality stress sub-index · w 1.55.0

Funding and liquidity sub-index · w 1.57.0

Foreign-exchange mismatch sub-index · w 1.54.0

Credit and asset-price imbalance sub-index · w 1.56.0

Climate-related financial exposure sub-index · w 0.53.0

Macroeconomic instability sub-index · w 0.55.0

Aggregation

Weight uncertainty ±%25

Mix aggregation alternatives (0 or 1)1

–

runs in your browser

Contribution of each component (leave one out)

Simulator: the index's published aggregation run on numbers you set, with 1,000 draws over weights and aggregation. The slider positions are starting points for the explainer, not NXS-GRX (canonical data, provenance and risk) values.

03Method

Treatment, normalisation, weighting, aggregation, uncertainty

Treatment: NONE
Outlier rule: |skew| > 2, kurtosis > 3.5
Normalisation: IDENTITY
Imputation: NONE
Coverage minimum: 71% of components
Modelled share cap: 20% of weight
Weighting: expert
Aggregation: mazziotta pareto
Scale: 0 to 10
Uncertainty: 1,000 Monte Carlo runs over normalisation, weights, aggregation
Framework basis: OECD/JRC Handbook (2008); JRC COIN 10-step guide; Mazziotta-Pareto index (2016); IMF FSI Compilation Guide (2019)

Very low0.0 to < 2.0

Low2.0 to < 3.5

Medium3.5 to < 5.0

High5.0 to < 6.5

Very high6.5 to 10.0

04Components

7 components, 28 indicators

Banking-sector solvency sub-index w 2

Composite of regulatory capital to risk-weighted assets, capital to assets, unprovisioned NPLs to capital and return on assets.

Indicator	Unit	Evidence	Sources	Share
Regulatory capital to risk-weighted assetsIND.FIN.capital.regulatory_capital_rwa	%	Class A	imf-fsi, national-supervisor	25.0%
Capital to total assets (leverage)IND.FIN.capital.capital_to_assets	%	Class A	imf-fsi, wb-wdi	25.0%
Non-performing loans net of provisions to capitalIND.FIN.capital.npl_net_capital	%	Class A	imf-fsi, national-supervisor	25.0%
Return on assetsIND.FIN.earnings.roa	%	Class A	imf-fsi, national-supervisor	25.0%

Asset-quality stress sub-index w 1.5

Composite of the NPL ratio, provision coverage, sectoral loan concentration and bank exposure to the sovereign.

Indicator	Unit	Evidence	Sources	Share
Non-performing loans to total gross loansIND.FIN.asset_quality.npl_ratio	%	Class A	imf-fsi, wb-wdi, national-supervisor	37.5%
Provisions to non-performing loansIND.FIN.asset_quality.provisions_to_npl	%	Class A	imf-fsi, national-supervisor	25.0%
Loan concentration by economic activityIND.FIN.asset_quality.loan_concentration	%	Class A	imf-fsi	18.8%
Bank claims on general government, share of bank assetsIND.FIN.asset_quality.sovereign_exposure	%	Class A	imf-mfs, national-central-bank	18.8%

Funding and liquidity sub-index w 1.5

Composite of liquid assets to total assets, liquid assets to short-term liabilities, deposits to loans and the liquidity coverage ratio.

Indicator	Unit	Evidence	Sources	Share
Liquid assets to total assetsIND.FIN.liquidity.liquid_assets_total	%	Class A	imf-fsi, wb-wdi	28.6%
Liquid assets to short-term liabilitiesIND.FIN.liquidity.liquid_assets_st_liabilities	%	Class A	imf-fsi, national-supervisor	28.6%
Customer deposits to total non-interbank loansIND.FIN.liquidity.deposits_to_loans	%	Class A	imf-fsi	28.6%
Liquidity coverage ratioIND.FIN.liquidity.lcr	%	Class A	imf-fsi, national-supervisor	14.3%

Foreign-exchange mismatch sub-index w 1.5

Composite of the absolute net open FX position to capital and credit and deposit dollarisation.

Indicator	Unit	Evidence	Sources	Share
Net open foreign-exchange position to capital (absolute)IND.FIN.fx.net_open_position_capital	%	Class A	imf-fsi, national-supervisor	33.3%
Foreign-currency loans, share of total loans (credit dollarisation)IND.FIN.fx.fx_loans_share	%	Class A	imf-fsi, national-central-bank	33.3%
Foreign-currency deposits, share of total deposits (deposit dollarisation)IND.FIN.fx.fx_deposits_share	%	Class A	imf-mfs, national-central-bank, imf-fsi	33.3%

Credit and asset-price imbalance sub-index w 1.5

Composite of the BIS credit-to-GDP gap, real private-credit growth, household and corporate debt, and real house-price growth and overvaluation.

Indicator	Unit	Evidence	Sources	Share
Credit-to-GDP gap (BIS)IND.FIN.depth.credit_gap	%	Class B	bis-credit-gap	25.0%
Real growth of credit to the private sectorIND.FIN.depth.private_credit_growth	%	Class A	imf-mfs, imf-fsi	16.7%
Household debt, share of GDPIND.FIN.depth.household_debt.gdp	%	Class A	bis-credit, imf-gdd, imf-fsi	16.7%
Non-financial corporate debt, share of GDPIND.FIN.depth.nfc_debt.gdp	%	Class A	bis-credit, imf-gdd, imf-fsi	16.7%
Real residential property price growthIND.FIN.housing.real_house_price_growth	%	Class B	bis-rpp, oecd-house-prices, imf-fsi	12.5%
House price-to-income ratio, deviation from long-run averageIND.FIN.housing.price_to_income_gap	%	Class B	oecd-house-prices, derived:bis-rpp	12.5%

Climate-related financial exposure sub-index w 0.5

Composite of bank exposure to carbon-intensive sectors, lending exposed to high physical climate risk and the natural-catastrophe protection gap.

Indicator	Unit	Evidence	Sources	Share
Bank exposure to carbon-intensive sectorsIND.FIN.climate_finance.carbon_intensive_exposure	%	Class D	derived:national-supervisor-credit-register, ngfs-scenarios, bcbs-climate-disclosure-2025	33.3%
Bank lending exposed to high physical climate riskIND.FIN.climate_finance.physical_risk_lending	%	Class E	derived:nhs-1-hazard-layers, national-supervisor-credit-register, bcbs-climate-disclosure-2025	33.3%
Natural-catastrophe protection gapIND.FIN.nbfi.nat_cat_protection_gap	%	Class C	swiss-re-sigma:licensed, munich-re-natcat:licensed, emdat, eiopa-protection-gap	33.3%

Macroeconomic instability sub-index w 0.5

Composite of growth volatility, inflation, exchange-rate volatility and unemployment.

Indicator	Unit	Evidence	Sources	Share
Volatility of real GDP growth (10-year)IND.MAC.output.growth_volatility	%	Class A	derived:nis:IND.MAC.output.real_gdp_growth	25.0%
Consumer price inflationIND.MAC.prices.cpi_inflation	%	Class A	wb-wdi, imf-weo, imf-cpi	25.0%
Exchange-rate volatility (36-month)IND.MAC.monetary.exchange_rate_volatility	%	Class A	derived:imf-ifs-exchange-rates	25.0%
Unemployment rateIND.MAC.labour.unemployment_rate	%	Class C	ilo-ilostat, wb-wdi	25.0%

05Domain

Financial system

Soundness, depth and vulnerabilities of banks, non-banks, households, corporates and markets, including climate-related financial risk.

Sub-domain	Indicators
Capital adequacy	5
Asset quality	4
Earnings	2
Liquidity and funding	5
Foreign-exchange risk	3
Financial depth and inclusion	6
Real estate	2
Non-bank financial intermediation	3
Climate-related financial exposure	2

Anchor frameworks (pillar structure and definitions only): IMF FSI 2019 guide; BCBS climate disclosure 2025; NGFS scenarios.

06Indicators

All 32 financial system indicators

FIG 4 · Indicators in scope, by domain and sub-domain

Area is the number of indicator definitions; colour is the pillar the domain feeds (Macroeconomy and Space feed through their indices). Select a block to filter the table.

Filter by name, code, domain, sub-domain or crosswalk

Indicator	Domain	Sub-domain	Component	Unit	Levels	Crosswalks
Regulatory capital to risk-weighted assetsIND.FIN.capital.regulatory_capital_rwa	FIN	Capital adequacy	coping capacity	%	COUNTRY	IMF_FSI FSKRC_PT
Tier 1 capital to risk-weighted assetsIND.FIN.capital.tier1_rwa	FIN	Capital adequacy	coping capacity	%	COUNTRY	IMF_FSI FSKRTC_PT
Common Equity Tier 1 capital to risk-weighted assetsIND.FIN.capital.cet1_rwa	FIN	Capital adequacy	coping capacity	%	COUNTRY	IMF_FSI FSCET_PT
Capital to total assets (leverage)IND.FIN.capital.capital_to_assets	FIN	Capital adequacy	coping capacity	%	COUNTRY	IMF_FSI FSKA_PT WB_WDI FB.BNK.CAPA.ZS
Non-performing loans net of provisions to capitalIND.FIN.capital.npl_net_capital	FIN	Capital adequacy	vulnerability	%	COUNTRY	IMF_FSI FSKNL_PT
Non-performing loans to total gross loansIND.FIN.asset_quality.npl_ratio	FIN	Asset quality	vulnerability	%	COUNTRY	IMF_FSI FSANL_PT WB_WDI FB.AST.NPER.ZS
Provisions to non-performing loansIND.FIN.asset_quality.provisions_to_npl	FIN	Asset quality	coping capacity	%	COUNTRY	IMF_FSI FSPN_PT
Loan concentration by economic activityIND.FIN.asset_quality.loan_concentration	FIN	Asset quality	vulnerability	%	COUNTRY	IMF_FSI FSCLE_PT
Bank claims on general government, share of bank assetsIND.FIN.asset_quality.sovereign_exposure	FIN	Asset quality	vulnerability	%	COUNTRY	IMF_FSI FSASDG_PT
Return on assetsIND.FIN.earnings.roa	FIN	Earnings	coping capacity	%	COUNTRY	IMF_FSI FSERA_PT
Return on equityIND.FIN.earnings.roe	FIN	Earnings	coping capacity	%	COUNTRY	IMF_FSI FSERE_PT
Liquid assets to total assetsIND.FIN.liquidity.liquid_assets_total	FIN	Liquidity and funding	coping capacity	%	COUNTRY	IMF_FSI FSLT_PT WB_WDI FD.RES.LIQU.AS.ZS
Liquid assets to short-term liabilitiesIND.FIN.liquidity.liquid_assets_st_liabilities	FIN	Liquidity and funding	coping capacity	%	COUNTRY	IMF_FSI FSLS_PT
Liquidity coverage ratioIND.FIN.liquidity.lcr	FIN	Liquidity and funding	coping capacity	%	COUNTRY	IMF_FSI FSLCR_PT
Net stable funding ratioIND.FIN.liquidity.nsfr	FIN	Liquidity and funding	coping capacity	%	COUNTRY	IMF_FSI FSNSF_PT
Customer deposits to total non-interbank loansIND.FIN.liquidity.deposits_to_loans	FIN	Liquidity and funding	coping capacity	%	COUNTRY	IMF_FSI FSCD_PT
Net open foreign-exchange position to capital (absolute)IND.FIN.fx.net_open_position_capital	FIN	Foreign-exchange risk	vulnerability	%	COUNTRY	IMF_FSI FSSNO_PT
Foreign-currency loans, share of total loans (credit dollarisation)IND.FIN.fx.fx_loans_share	FIN	Foreign-exchange risk	vulnerability	%	COUNTRY	IMF_FSI FSFC_PT
Foreign-currency deposits, share of total deposits (deposit dollarisation)IND.FIN.fx.fx_deposits_share	FIN	Foreign-exchange risk	vulnerability	%	COUNTRY	IMF_FSI FSFCD_PT
Domestic credit to the private sector, share of GDPIND.FIN.depth.private_credit.gdp	FIN	Financial depth and inclusion	context	%	COUNTRY	WB_WDI FS.AST.PRVT.GD.ZS WB_WDI GFDD.DI.14
Credit-to-GDP gap (BIS)IND.FIN.depth.credit_gap	FIN	Financial depth and inclusion	vulnerability	%	COUNTRY
Real growth of credit to the private sectorIND.FIN.depth.private_credit_growth	FIN	Financial depth and inclusion	vulnerability	%	COUNTRY	IMF_FSI FSCGPS_PT
Household debt, share of GDPIND.FIN.depth.household_debt.gdp	FIN	Financial depth and inclusion	vulnerability	%	COUNTRY	IMF_FSI FSHG_PT
Non-financial corporate debt, share of GDPIND.FIN.depth.nfc_debt.gdp	FIN	Financial depth and inclusion	vulnerability	%	COUNTRY	IMF_FSI FSTDGDP_PT
Account ownership, adultsIND.FIN.depth.account_ownership	FIN	Financial depth and inclusion	coping capacity	%	COUNTRY	WB_WDI FX.OWN.TOTL.ZS SDG 8.10.2
Real residential property price growthIND.FIN.housing.real_house_price_growth	FIN	Real estate	vulnerability	%	COUNTRY	IMF_FSI FSREPRR_PC_CP_A_PT
House price-to-income ratio, deviation from long-run averageIND.FIN.housing.price_to_income_gap	FIN	Real estate	vulnerability	%	COUNTRY, CITY
Assets of other financial corporations, share of GDPIND.FIN.nbfi.ofc_assets.gdp	FIN	Non-bank financial intermediation	context	%	COUNTRY	IMF_FSI FSFAG_PT
Insurance penetration (premiums to GDP)IND.FIN.nbfi.insurance_penetration	FIN	Non-bank financial intermediation	coping capacity	%	COUNTRY	WB_WDI GFDD.DI.09 WB_WDI GFDD.DI.10
Natural-catastrophe protection gapIND.FIN.nbfi.nat_cat_protection_gap	FIN	Non-bank financial intermediation	vulnerability	%	REGION, COUNTRY
Bank exposure to carbon-intensive sectorsIND.FIN.climate_finance.carbon_intensive_exposure	FIN	Climate-related financial exposure	exposure	%	COUNTRY
Bank lending exposed to high physical climate riskIND.FIN.climate_finance.physical_risk_lending	FIN	Climate-related financial exposure	exposure	%	COUNTRY

07Quote

Financial stability risk index, world

The world reading of this index, every country as a tile and the largest movements since the previous edition.

NXS-GRX · FIN · 195 profiles · 0–10 scale

Financial stability risk index, world

—

Values publish with the edition; the interval, class and change appear here.

Previous edition: —
Range since 2016: —
Coupled composite: —
Coupling score S: —
Pulse, latest week: —
Outlook, 12 months: —
Method: Indicator Standard 1.0 · NXS-GRX 2026
Draws: 1,000

Financial stability risk index, world, by edition

No released values yet. The first edition draws the history here with its interval band and class bounds.

The line is the point value by edition; the band is the 90% interval; dashed lines are the class bounds at 2, 3.5, 5 and 6.5.

No movements yet. Changes since the previous edition are listed here from the second edition on, with the indicators that drove them.

08Values

Country values

FIG 5 · Financial stability risk index: countries (values when released)Find a country

Loading the map

Equal Earth · Natural Earth 1:110mValues when released

Until the first edition is released the map shows UN M49 regions or the Nexus Reports edition; it then shows this index's classes with each country's interval on hover. Countries are listed by name, never ordered by value.

Tiles: /api/v1/public/grix/risk-products/tiles/fin/{z}/{x}/{y}.mvt
Observation key: nis:IDX.FIN.capital.financial_stability_risk:{ISO3}:{YEAR}:A

09Series

Series that read this index

GLBGlobal SystemsThe state of interdependent global risk: the twenty domain indices aggregated to the world, the five core systems (water, energy, food, health, biodiversity) and their couplings, the global tail register and the gap between perceived and measured risk.GS-05Global Finance and economyFiscal and public debt risk, financial stability, external dependence, inflation and growth at risk, and the macro-financial channels of physical and transition risk.SR-08Financial contagion and systemic financeInterconnected exposures, sovereign–bank links, capital-flow reversals and contagion through financial networks.XT-05Quantum-relevant securityCryptographic resilience and the migration to post-quantum cryptography across public and financial systems.XT-17Distributed ledgers and decentralised infrastructureDistributed ledgers and decentralised physical infrastructure networks: operational, financial-stability and governance risk.

10Validity

Crosswalks and validity checks

Crosswalks map leaf indicators to source code lists; established indices are used for validity checks, never re-weighted as inputs.

Code system	Leaf indicators mapped
`IMF_FSI`	19
`WB_WDI`	5
`IMF_WEO`	1
`SDG`	1
`ILO`	1

11Across the Nexus

Platforms, standards and ways to take part

Field and service platforms of GCRI, GRF and GRA, the Nexus Risk Standards for this domain, learning, working groups and open calls. Every link is a live page.

Across the Nexus

GRA Banking · GRA Asset Management · GRA Fintech · GRA Capital Markets · GRA Private Equity · GRA Institutional Funds

12Cite

Cite and reuse

GCRI Canada (2026). The Global Risks Index (NXS-GRX): Financial stability risk index (GRX-IDX-FIN), Baseline Edition 2026. Preparatory working draft. https://risksindex.com/indices/financial-stability-risk/ UNI NXS-GRX-AR-000121.

See this index in every country profile

Each profile shows this index with its interval and class once released.

Country profiles All indices

Status

The methodology, structure and definitions of The Global Risks Index are a preparatory working draft (2026), circulated for review and comment and not for implementation. No value appears until an edition is released from a governed evidence cut; values then carry intervals, classes, sources and their correction pathway. Simulators run the published methods on numbers you choose and never show a NXS-GRX value.

What NXS-GRX is not

NXS-GRX is research and risk-analytics information. It is not a credit or ESG rating and uses no rating scale, not a benchmark for financial instruments, not official statistics, not an emergency warning or official classification, and not advice. It must not be used to evaluate natural persons. Risk classes are bands on a published scale, never rankings of countries or people.

Institutions and sources

The Nexus Consortium is stewarded by three independent not-for-profit institutions: GCRI Canada as Lead Institution, Consortium Secretariat and lead contracting organization, The Global Risks Forum (GRF) and The Global Risks Alliance (GRA). Technology, infrastructure and service providers work with the Consortium at arm's length under written agreements, like every other external party in the public-private-planet model, and hold no role in its stewardship.

Every value carries the attribution of its sources, which keep their own licences. External names are cited for interoperability only. Nexus-authored text is intended for CC BY 4.0 on release.

Avis en français

La méthodologie et les définitions du NXS-GRX sont un projet de travail préparatoire (2026). Le NXS-GRX est une information de recherche et d'analyse des risques : ni notation, ni indice de référence financier, ni statistique officielle, ni alerte, ni conseil. Les classes de risque sont des bandes sur une échelle publiée, non des classements.

Cart review

Financial stability risk index

mazziotta pareto

1,000 draws

7 components

71% minimum

From indicators to the composite

Run this index's own aggregation

Treatment, normalisation, weighting, aggregation, uncertainty

7 components, 28 indicators

Banking-sector solvency sub-index w 2

Asset-quality stress sub-index w 1.5

Funding and liquidity sub-index w 1.5

Foreign-exchange mismatch sub-index w 1.5

Credit and asset-price imbalance sub-index w 1.5

Climate-related financial exposure sub-index w 0.5

Macroeconomic instability sub-index w 0.5

Financial system

All 32 financial system indicators

Financial stability risk index, world

Country values

Series that read this index

Crosswalks and validity checks

Platforms, standards and ways to take part

Across the Nexus

Cite and reuse

See this index in every country profile

Status

What NXS-GRX is not

Institutions and sources

GLOBAL RISKS INDEX (GRIx)