Financial Stability Review marks 25 years with over 300 articles

The Banco de España established its Financial Stability Division in 2000 and launched the Financial Stability Review one year later in response to international crises like the 1997 Asian turmoil.

Over a quarter of a century, the publication has produced 50 issues containing more than 300 articles by roughly 340 authors across 30 countries.

External contributors account for 39 percent of the articles, while nearly one-third are published directly in English.

Readership surveys show that 40 percent of readers work in the financial sector, 15 percent in the public sector, and 10 percent in academia.

Unlike the half-yearly Financial Stability Report, which presents official institutional views, the Review offers independent technical analysis.

The publication's thematic focus has evolved across four distinct periods over the past 25 years, tracking structural shifts in the global financial system.

While early editions focused heavily on post-crisis banking regulation and supervisory frameworks, recent issues address emerging structural challenges.

The editorial agenda currently highlights the rapid expansion of non-bank financial intermediation alongside artificial intelligence applications in finance.

However, traditional topics such as banking solvency, macroprudential policy, and crisis management remain core components of its analytical scope.