ESRB欧洲系统风险委员会：2015年ESRB关于主权风险敞口监管处理的报告（英文版）

This report has been produced by the European Systemic Risk Board (ESRB) through a special expert group composed of members of its advisory committees (the Advisory Technical Committee and the Advisory Scientific Committee). The exposures that banks and insurance corporations have held vis-à-vis sovereigns have been seen by many as a source of fragility in the recent and prolonged episodes of financial stress, while others have seen them as a factor of crisis mitigation. The current regulator