Today, the SRB Chair Dominique Laboureix presented the latest biannual reporting note to the Eurogroup, highlighting the evolving risks facing Europe’s banking sector and the need to further strengthen resilience and crisis preparedness.
Geopolitical tensions, market volatility and operational threats are creating new challenges for banks and authorities alike, the report notes.
While Europe has made significant progress in strengthening banks’ resilience and resolvability, further work is needed to address existing gaps in the framework, particularly regarding liquidity and solvency risks. According to the report, the European Commission’s forthcoming banking package offers an opportunity to address these long-standing issues, advance the banking union and establish simpler, more modern rules and a more complete crisis management framework. At the same time, preparedness must extend beyond traditional financial risks. Cyber-attacks, ICT disruptions and outages affecting critical infrastructure can threaten the continuity of essential banking services, even when banks remain financially sound.
The SRB is strengthening its preparedness for such scenarios, working closely with the SSM, the national authorities and other European partners.
This reporting takes place twice a year, in parallel with the hearing of the Chair of the ECB Supervisory Board.
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