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Here are some of the key points from the European Central Bank’s (ECB) financial stability report, published this Thursday:

   “¢   Downside risks to global growth outlook are more pronounced and Euro-area financial stability environment has become more challenging.
   “¢   A turnaround in US growth outlook, EM stress, big market swings on politics could trigger a disorderly rise in risk premia.
   “¢   A number of market indicators appear to signal downside risks to macro-financial cycle in the US.