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Impaired loans, cybercrime and Brexit are among the biggest risks facing eurozone lenders in 2019, the European Central Bank (ECB) said on Tuesday as setting its supervisory priorities [19659002] Growth in the euro area has reduced overall economic uncertainty, but international risk factors, protectionism to a "hard Brexit" and emerging market turbulence are increasing and require monitoring. closer, explained the central bank. The entity is monitoring 118 of the major banks in the euro area.
"Compared to the previous year, risks arising from the economic and fiscal conditions of the euro area have been significantly reduced, mainly due to cyclical favorable," the ECB reported.
"At the same time, geopolitical uncertainties and price adjustment risks in the financial markets have increased.The progress of digitization exacerbates the risks badociated with IoT systems and cyberattacks. by the banks. "
Other highlighted risks include the examination of prices on the financial markets and the impact of low interest rates. Interest in the profitability of banks, he added.
With regard to Brexit, the ECB stressed that banks should be ready for any eventuality, as no agreement was reached just a few months after the UK sealed its exit from the UK market . European Union (EU).
"Preparing banks for Brexit remains a top priority for the ECB's banking supervision," said the agency.
Brexit without agreement = recession
For its part, the agency S & P Global warned that a Brexit without agreement "could push" the British economy towards a "modest economic recession ", according to a report released by the firm. Tuesday
S & P Global pointed out that a Brexit without agreement was not the main scenario on which their estimates were based, although it was a risk that increased "enough" to enter "relevant".
The agency has therefore noted that a disorderly exit from the EU would require a reduction in UK GDP of 5.5% until 2021 compared to a situation in which both parties would agree on a transitional period until 2020.
In comparison, although S & P Global described this economic shock as "severe", the contraction of GDP would represent 60% of the reduction recorded after the financial crisis of 2008. [19659013]! Function (f, b, e, v, n, t, s)
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