The subject raises a huge interest in international circles, be it research groups, financial institutions or public decision makers due to market globalization and integration which trigger the risks that are spread from one market to the other through intensive financial flows.The definition of financial stability is controversial.Therefore we endeavor to select the most prominent views concerning this subject given its importance in modern economies. Further the most important macroeconomic determinants of financial stability are described as well as the requirements to fulfill this objective.