Examining the ECB’s expectations around data, technology, and cyber security.
Increased regulatory requirements and more intensive supervision have driven an almost insatiable appetite for data among regulators – to monitor adherence to regulatory requirements; to support stress testing; to answer one-off information requests; to provide the raw materials for recovery and resolution planning; to open a lens on non-bank financial channels; and to access system-wide data for macro-prudential policy purposes. Indeed, banks have been challenged by issues related to data, technology, and cyber security even before the ECB announced that this would be a priority area for 2016.
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