Report

The State of Systemic Risk 2026

Unlock insights into how financial institutions are navigating an increasingly complex and interconnected systemic risk landscape.

Financial institutions are facing a risk environment where geopolitical disruption, AI, cyber threats, and macroeconomic pressures increasingly converge. The State of Systemic Risk 2026 examines the growing gap between recognizing these risks and having the capabilities to act on them effectively. 

Based on research with 166 industry professionals, this report explores how financial institutions are responding to systemic risk across risk appetite, balance sheet management, AI adoption, and enterprise-wide stress testing. It highlights persistent gaps in integration, data automation, and scenario modeling that can limit institutions’ ability to translate emerging risks into capital, liquidity, and business decisions.

 Key Takeaways

• Why geopolitical and geoeconomic risk remains the leading near-term threat for financial institutions.
• How fragmented systems and limited data automation create gaps between risk appetite and execution.
• What data quality, validation, and governance challenges mean for AI adoption in risk functions.
• Why cost, siloed data, legacy technology, and modeling limitations constrain enterprise-wide stress testing.

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