For example, should we directly supervise third parties such as cloud service providers? And how do we deal with IT becoming more and more crucial to the functioning of the financial sector?
We do exert pressure on banks to remedy their gaps in IT risk management – but when it comes to regulatory action, the “traditional” focus of banking supervision, namely solvency and liquidity, is what counts. Is this logic still valid in the digital age? Summing up, we are witnessing significant advances in both topics, but their practical design is not yet decided.