The Global Centre for Risk and Innovation (GCRI)
Illustrative: interbank exposures between a core and a periphery, and a default spreading
Risk Academy, led by the Nexus Consortium · Finance and Economics
Financial stability and systemic financial risk covers the resilience of banks, insurers, markets and market infrastructure to shocks, and the channels through which stress spreads across the financial system and into the real economy.
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The model
From a credit boom to a buffer: the credit-to-GDP gap and the cost of a banking crisis
DataModelGateDecisionStandard it teachesStandard it relies onNeighbouring discipline
The model From a credit boom to a buffer: the credit-to-GDP gap and the cost of a banking crisis
The subtopics its courses and labs teach.
For analysts in central banks, macroprudential authorities, risk functions and research who need to trace how stress spreads between institutions and markets and into the real economy.
Each method is listed with what it assumes and where it fails.
Bodies and standards are named so learners can find and apply their published work; the Academy teaches their use and links to the publisher, and no affiliation is implied.
Financial stability and systemic financial risk's own model, as a live chart: move each parameter and read how the outputs respond.
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The Nexus Standards the discipline teaches toward, grouped by master standard, with the disciplines that teach each.
Nexus Standards at the AcademyThe Academy proposes how each discipline teaches toward the Nexus Standards; the mapping is open for review by the editors of the Nexus Standards.
Open scholarly sources searched with the subject terms of Financial stability and systemic financial risk.
Search termsFinancial stability and systemic financial risk; Systemic interconnectedness; Contagion and fire sales; Liquidity and market stress; Non-bank financial intermediation; Stress testingDerived from the Risk Academy page on Financial stability and systemic financial risk.
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Research and preprints as they are published, by discipline, with the faculty's other tools.
The hub lists the newest research and preprints for Financial stability and systemic financial risk, each with its source and date. Open the research hub
From the Academy's risk taxonomy: the discipline's own entries and those of its primary courses, with how many courses teach each.
Recent developments in financial stability and systemic financial risk, each with its source; sources checked on 16 October 2026.
Courses with this as their primary discipline.
Courses with this primary discipline1 course open
Each course has its primary discipline elsewhere and teaches this field as part of its scope.
From connected disciplines1 course open
| Lab | What you do in it | Courses using it |
|---|---|---|
| Network lab | Build dependency graphs, find critical nodes, trace cascades | 3 |
| Exposure lab | Overlay people and assets with hazard footprints | 1 |
| Trigger lab | Set forecast thresholds, pre-agreed actions and messages | 1 |
Nexus Foundry system pages describe what each system and its rooms are designed to do; the courses teach the methods these systems apply.
Start with Shleifer, then Allen, then Eisenberg.
Nexus Reports is the Consortium's quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.
The catalogue lists each course with its outcomes, labs, hours and level.