The Liechtenstein Financial Market Authority has published the 2025 edition of its Financial Stability Report, assessing the Liechtenstein financial sector as stable and resilient despite a difficult environment. The report was presented in Vaduz, where Mark Branson, President of Germany’s Federal Financial Supervisory Authority, spoke on financial stability. The assessment notes that measures recommended in recent reports and implemented by the Financial Market Stability Committee are already having an effect. Borrower-based measures are described as having strengthened financial stability and reduced systemic risks, particularly by lowering banks’ vulnerabilities linked to the real estate market, supported by the harmonisation of the definition of sustainable affordability to improve comparability across the banking sector.