The European Supervisory Authorities (ESAs) released their Autumn 2025 Joint Committee Report, focusing on risks in the EU financial system. The report emphasizes the impact of geopolitical uncertainties stemming from global trade tensions and security concerns. The ESAs warn that changes in global trade and security have worsened the economic outlook in the first half of 2025. Despite the resilience of the European financial system, risks persist due to growing transatlantic tensions. These include tariffs and currency shifts affecting commodities and foreign exchange markets. The report highlights the strong interlinkages with US financial markets, amplifying these risks. The ESAs advise financial actors to integrate geopolitical risks into their operations and risk assessments. They urge preparedness for market corrections by maintaining sufficient provisions and stress testing liquidity. Vigilance against cyber risks, including those from third-party providers, is crucial. Monitoring contagion risks from expanding crypto assets is also recommended. Finally, the ESAs encourage active support for the Savings and Investments Union while considering investment suitability.