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The European Supervisory Authorities said on 23 September that external dependencies, emerging technologies and private credit were key vulnerabilities for the EU financial system. They also said banks, insurers and investment funds had remained resilient.
The joint update points to reliance on non-EEA ICT providers and payment infrastructure, as well as cyber risks associated with increasingly capable AI. It says private credit is growing, relatively opaque and more connected to the wider system, with data gaps and possible liquidity spillovers.