Financial institutions are increasingly dependent on third-party service providers (TPSPs), raising concerns about systemic risks due to limited transparency. While the EU and U.K. have introduced formal oversight regimes, the U.S. relies on industry cooperation and micro-prudential supervision. A recent case study highlights financial stability risks from a payments disruption linked to a TPSP. As rapid technological change reshapes the financial sector, vulnerabilities from TPSP concentration and interconnectedness may grow. Greater understanding is needed to assess these risks and inform potential oversight responses.
The European Commission’s AI Continent Action Plan emphasizes the need to significantly expand cloud and data center capacity across the EU to support AI and digital infrastructure goals. The Cloud and AI Development Act aims to incentivize investment and triple current capacity within seven years. The insurance sector supports this approach but warns against restrictive sovereignty measures that could exclude non-EU providers without viable alternatives. It advocates for flexible, risk-based cloud definitions and support for hybrid strategies. The sector stresses that capacity-building, not protectionism, is key to achieving digital sovereignty while maintaining innovation, competitiveness, and international interoperability.
The ESAs and the EU’s new Anti-Money Laundering Authority (AMLA) have signed a multilateral Memorandum of Understanding to formalize cooperation and information exchange. The agreement outlines procedures for coordination and data sharing to support effective supervision across the EU’s financial sector. It aims to enhance supervisory convergence, foster cross-sector learning, and improve consistency in applying AML/CFT rules. This MoU is part of AMLA’s broader mandate to strengthen EU-wide oversight and coordinate with national authorities and Financial Intelligence Units in combating financial crime.
En 2024, Tracfin a franchi le cap des 200 000 déclarations de soupçon, avec 211 165 signalements (+13,2 % par rapport à 2023), reflétant l’engagement croissant des 50 professions assujetties à la lutte contre le blanchiment de capitaux (LCB-FT). Le secteur financier domine (93,1 %), mais le non-financier progresse (+25,7 %), notamment les opérateurs d’art (+254,4 %). Deux nouvelles professions, les entreprises de jeux numériques et gestionnaires de crédit, intègrent le dispositif. Tracfin renforce la qualité des déclarations via des échanges avec les déclarants et consolide sa coopération internationale, notamment avec l’AMLA et le Groupe Egmont.
The UK Financial Conduct Authority (FCA) has clarified that serious bullying and harassment in financial firms constitute misconduct under its rules. Previously, the classification of such behaviors as conduct breaches was often unclear for firms other than banks.
Effective September 1, 2026, these regulations will encompass approximately 37,000 additional regulated firms, aiming for consistent standards across the financial services sector. Substantial cases of poor personal behavior will also be mandated for inclusion in regulatory references, similar to financial misconduct, to prevent individuals from avoiding accountability by changing employers.
The FCA is consulting on further guidance to aid firms in implementing these changes, considering feedback on earlier drafts. This guidance addresses how firms should evaluate non-financial misconduct, including social media use and private life behavior, when assessing an individual's fitness for financial services roles. The consultation period for this guidance extends until September 10, 2025.
This report examines how European (re)insurers address biodiversity risks, which threaten financial stability due to their complexity and links with climate risks. Despite challenges in quantifying impacts, one in five insurers references biodiversity in their risk assessments, though mostly qualitatively. Promising practices show growing awareness, but regional variations and limited metrics hinder progress. EIOPA calls for enhanced collaboration to improve data, models, and risk management, emphasizing the need to better understand the climate-biodiversity nexus and explore nature-based solutions to address insurance gaps.
Cette cartographie annuelle des risques, souligne la résilience des marchés financiers malgré un contexte mondial incertain marqué par des tensions géopolitiques et commerciales. L'AMF constate une volatilité accrue sur toutes les classes d'actifs qui devrait persister. Les prévisions de croissance mondiale ont été revues à la baisse. Bien que les marchés aient fait preuve de résilience face aux ajustements récents, des risques de correction futurs subsistent. La gestion d'actifs française a bien résisté, mais l'AMF reste vigilante sur les fonds immobiliers commerciaux et les actifs illiquides. Les cyberattaques sont en hausse, et l'entrée en vigueur du règlement DORA vise à renforcer la résilience opérationnelle.
Le bilan agrégé des six principales banques françaises a progressé de 3,4% en 2024, atteignant 8 801,5 milliards d'euros, principalement grâce à une hausse des titres de dette détenus (+17,1%) et des prêts aux institutions financières. Le Produit Net Bancaire (PNB) a atteint un niveau historique de 158,7 milliards d'euros (+8%), porté par les commissions et les activités de marché, malgré un léger recul de la Marge Nette d'Intérêts. La rentabilité s'améliore, avec une hausse du résultat net de 11,7%. La situation de solvabilité (ratio CET1 à 15,6%) et de liquidité reste solide, bien que le risque de crédit ait légèrement augmenté dans un contexte macroéconomique incertain.
L'activité d'assurance-vie en France a connu une forte croissance en 2024, avec une collecte brute record de 141,8 milliards d'euros, tirée par les supports en euros. Les rachats ont diminué de 10% par rapport à 2023. La collecte nette est redevenue positive, atteignant 22,8 milliards d'euros, malgré une collecte nette négative pour les supports en euros. Dans le même temps, l'assurance non-vie a vu ses primes augmenter plus rapidement que les sinistres, améliorant le ratio combiné à 96,9%. Le ratio de solvabilité moyen des assureurs a légèrement baissé à 238% fin 2024, dû à une diminution des fonds propres et une hausse du capital de solvabilité requis.
EU/EEA banks are required to integrate geopolitical risk into their business processes and risk assessments, focusing on exposures to vulnerable sectors amid heightened global tensions. Maintaining operational resilience is essential as banks face rapid changes in geopolitical and technological environments, with increased investment in cybersecurity a priority. As defense financing needs rise, banks must apply robust underwriting standards. Market volatility underscores the importance of prudent capital buffer management and timely bond issuance. Effective cost and provision management, sustainable revenue strategies, and the integration of ESG risks into risk frameworks are also mandated.