The IAIS is using its vantage point as an international standard-setter to assess the risks to the sector and develope material to support supervisors with regard to risks associated with IT third-party outsourcing, and insurance sector cyber-resilience more broadly. The PA will also participate in this work and will consider it in the development of its own supervisory and regulatory tools.
Their ongoing pass-through to the borrowing conditions for firms and households benefits credit creation and supports the steadily firming recovery of the euro area economy. Sentiment indicators suggest that the cyclical recovery may be gaining momentum. Headline inflation has again increased, largely on account of rising energy and food price inflation. However, underlying inflation pressures continue to remain subdued.