Euro Area: Publication of Financial Sector Assessment Program Documentation-Technical Note on Cyber Risk and Financial Stability-Selected Issues in Regulation and Supervision
IMF Staff Country Reports, July 25, 2025
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- Euro Area: Publication of Financial Sector Assessment Program Documentation-Technical Note on Cyber Risk and Financial Stability-Selected Issues in Regulation and Supervision
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Bibliographic details
- Published: July 25, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229019873.002
Summary and Scope
- The FSAP reviewed the supervision and oversight of cyber risk and operational resilience of Significant Banking Institutions (SIs) in the Single Supervisory Mechanism (SSM) and the Financial Market Infrastructures (FMIs) operated by the Eurosystem.
- From an institutional perspective, the review included the ECB’s relevant organizational units in the ECB Banking Supervision, Directorate General Market Infrastructure and Payments (DG-MIP), and the European Supervisory Authorities’ (ESA) joint Directorate in charge for Digital Operational Resilience Act (DORA) oversight; jointly referred to as “authorities”.
Key Findings and Focus Areas
- Supervision and oversight coverage: SIs in the SSM and Eurosystem-operated FMIs were the primary focus.
- Institutional coverage: ECB Banking Supervision, DG-MIP, and the ESA joint Directorate for DORA oversight were explicitly included in the review.
- Operational resilience emphasis: Cyber risk and operational resilience were central topics of assessment.
Subjects and Keywords
- Subjects: Cyber risk, Financial markets, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Operational risk, Payment systems, PFM information systems, Public financial management (PFM), Technology
- Keywords: chief information security officer, Cyber risk, Financial Sector Assessment Program, FMI oversight, Global, markets authority, Operational risk, oversight practice, Payment systems, PFM information systems, resilience oversight expectation, staff team of the International Monetary Fund
Content in this bundle
- 1eurea2025010 - Executive Summary