Cyber Risk and Bank Supervision: Lessons from the ECB Cyber Stress Test
SUERF Policy Brief Can supervisory scrutiny alone — without capital charges or public disclosure — shift bank behaviour on cybersecurity investment? This SUERF Policy Brief, based on an ECB Working Paper, examines whether the ECB’s 2024 Cyber Resilience Stress Test (CyRST) induced banks to increase cybersecurity investment. Cybersecurity has become a central financial stability concern: […]
Neo-conglomerates and EU Regulatory Perimeter Challenges: State of Play and Evaluation of Policy Options
As large technology-driven groups accumulate financial licences and offer bank-like services outside the regulatory perimeter, are supervisory frameworks keeping pace? The European Central Bank (ECB) has published Occasional Paper No. 394, examining the implications for financial stability of bank-like services being offered in the EU by large non-bank groups — referred to as “neo-conglomerates” — and […]
Annual Economic Report 2026
The Bank for International Settlements (BIS) has released its Annual Economic Report 2026, warning that economic progress faces rising perils and that disciplined policy responses across all fronts are now essential. The report identifies four pressure points of direct relevance for banking supervisors. First, inflation risks: in a world of more frequent negative supply shocks […]
Cyber risk stress testing for banks
FSI Briefs No 30 In the context of growing frequency and sophistication, and increasing potential impacts of cyber incidents, some authorities have disclosed that they are conducting cyber stress tests to enhance firm and sector resilience to operational disruptions, such as those caused by cyber-attacks. These tests benefit both authorities and firms by identifying vulnerabilities […]
Private Credit Market Analysis in Spain
Financial Stability Review. Issue 49. Autumn 2025 The private credit market has experienced notable growth in recent years, positioning itself as an alternative to traditional bank financing. Although it still represents a small fraction of total corporate credit—particularly in Spain—its evolution reflects increasing sophistication and diversification, which has drawn the attention of supervisors, who are […]