ECB has pointed pointed out the  Supervisory priorities and risk assessment for 2022-2024.

In particular, these concern:

• Deficiencies in credit risk management frameworks
• Exposures to COVID-19 vulnerable sectors, including commercial real estate
• Exposures to leveraged finance
• Sensitivities to shocks in interest rates and credit spreads
• Deficiencies in banks’ digital transformation strategies
• Deficiencies in management bodies’ steering capabilities
• Exposure to climate-related and environmental risks
• Exposures to counterparty credit risk, especially towards non-bank financial institutions
• Deficiencies in IT outsourcing and cyber resilience

EIOPA has published its December 2021 Financial Stability Report. The analysis underpinning the report examined key macroeconomic developments and the prevalence of risks that are key for the insurance and pension sectors.

In the report, the Authority identifies a number of crucial risks:

• environmental risks;
• cyber risk;
• risks arising from the ongoing pandemic.