On 1-2 September, the head of banking supervision at the European Central Bank (ECB) Andrea Enria visited Estonia. During his visit Mr Enria met the management board of Finantsinspektsioon and leaders of the largest Estonian banks.
The meetings focused mainly on the risk outlook and the supervision of the Estonian banking sector, with particular focus on the institutions directly supervised by the ECB (Luminor Bank, Swedbank and SEB Pank).
Andrea Enria said that financial supervision in Estonia is an important part of the European supervisory system. “We are grateful for the good collaboration with our Estonian colleagues and highly value their expertise, especially in the field of information technology”, he said.
Chair of the board of Finantsinspektsioon Kilvar Kessler added that the proposed Digital Operational Resilience Act (DORA), a regulation aiming at reducing digital risks in the financial sector, will raise questions on information technology that supervisors will need to address in the best possible way. “We hope that we will be able to share our good experience with our colleagues so that banking in the euro area can stand on an even firmer footing”, he said.
Andrea Enria has been in charge of banking supervision at the ECB since January 2019.