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The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) together with the European Central Bank (ECB), today released the results of the one-off “Fit-For-55” climate scenario analysis. Under the scenarios examined, transition risks alone are unlikely to threaten financial stability. However, when transition risks are combined with macroeconomic shocks, they can increase losses for financial institutions and may lead to disruptions. This calls for a coordinated policy approach to financing the green transition and the need for financial institutions to integrate climate risks into their risk management in a comprehensive and timely manner.

The European Banking Authority (EBA) has appointed Kamil Liberadzki as new Director of its Economic & Risk Analysis Department. Kamil Liberadzki, who will be responsible for assessing and monitoring financial stability and the risks and vulnerabilities in the EU banking and financial sector, takes up his new role on 18 November 2024.