ESAs call for vigilance over external dependencies, cyber threats and private credit risks

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The European Supervisory Authorities (EBA, EIOPA, and ESMA) identified external dependencies, emerging technologies, and private credit as key vulnerabilities for the EU financial system. While EU banks, insurers, and investment funds remain fundamentally resilient, authorities warned of elevated cyber threats linked to non-EEA ICT providers and advanced AI models. Regulators urged market participants and supervisors to heighten vigilance and strengthen preparedness against these operational and geopolitical risks.