Since the previous Financial Stability Report, the Chilean financial system —including internal and external payment systems— has not recorded any major disruptive events. In the international context, a greater appetite for risk on the part of investors presents itself as a source of vulnerability for global financial stability, given the possibility of abrupt adjustments in financing conditions. At domestic level, households continued to increase their level of indebtedness and financial burden on income, while banks maintained smaller capital buffers than at the beginning of this decade. However, the available information indicates that the better cyclical position of the economy enables both users and providers of credit to adjust to the impact of various stress scenarios. At the same time, the implementation of the New General Banking Law will contribute to increasing the robustness of banking in the coming years.