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The ECB's banking supervisors are intensifying their focus on geopolitical and cyber risks, emphasizing the need for robust risk management as digitalization in finance grows. ECB President Christine Lagarde highlighted the challenges posed by geopolitical instability, including the war in Ukraine and trade tensions, which test banks' resilience. Supervisors are concerned about the rising frequency of cyberattacks and are working with banks to enhance their defenses, while also monitoring liquidity and currency risks amid unpredictable U.S. policies.
The European Central Bank will decide by next week whether the 'Danish Compromise' capital rules for banks' insurance holdings apply to asset manager acquisitions through insurance units. This decision, influenced by requests from BNP Paribas and Banco BPM, could significantly impact consolidation in Europe's financial sector. The ECB is processing these requests on a case-by-case basis, with a focus on providing clarity to the market.
The European Central Bank is expected to approve Unicredit's acquisition of a 29.99% stake in Commerzbank by early March, paving the way for a significant cross-border banking merger. However, the real challenge lies in navigating the hostile political landscape in Germany, where key figures have expressed strong opposition to the takeover. Unicredit's CEO Andrea Orcel is awaiting the formation of the new German government to seek support for the operation.
The European Central Bank is set to enhance its focus on geopolitical risks affecting banks, as supervision head Claudia Buch prepares to prioritize these concerns in the upcoming annual supervisory agenda. This shift will involve increased information requests and on-site inspections to assess banks' exposure to political events, including wars.
Claudia Buch
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banking supervisors focus on cyber and geopolitical risks in financial sector
13:28 27.03.2025
ECB to decide on capital rules for banks' insurance holdings next week
Euro
AXA SA
BNP Paribas SA
Banco BPM S.p.A.
Anima Holding SpA
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Claudia Buch
Valentina Za
Francesco Canepa
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16:23 21.03.2025
unicredit poised for comebank takeover as ecb approval nears amid political concerns
Euro
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Olaf Scholz
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13:14 27.02.2025
ECB to Intensify Scrutiny of Banks' Geopolitical Risk Exposure
12:05 12.11.2024
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