Sovereign bond and AI cyber risks feature in European talks
European officials discussed sovereign bond vulnerabilities, AI-amplified cyber risks and crisis preparedness at the Financial Stability Board (FSB) regional meeting in Bern, hosted by the Swiss National Bank (SNB).
Bond markets meet AI risks
The FSB Regional Consultative Group for Europe met in Bern on November 2–3, 2026, bringing together senior officials from central banks, financial authorities and regulatory bodies across the region.
Antoine Martin, Vice-Chairman of the SNB's Governing Board, and Marja Nykänen, Deputy Governor of the Bank of Finland, co-chaired the meeting.
Members reviewed the FSB's 2026 work programme and considered priorities for 2027.
Their discussion of global and regional financial vulnerabilities included European sovereign bond markets and cyber risks amplified by advanced artificial intelligence models.
Members also considered further regional engagement and contributed input for FSB Plenary discussions.
Liquidity and weather protection gaps
Crisis preparedness discussions covered public liquidity support, including funding in resolution and central bank liquidity facilities for solvent firms.
Members also reviewed their institutions' work on financial stability vulnerabilities associated with extreme weather events, including natural catastrophe insurance protection gaps.
A panel on regulatory and supervisory modernisation considered the FSB's proposed principles for updating these frameworks and their applicability in Europe.
Discussion rather than adoption
The meeting connected financial vulnerabilities with crisis preparedness and regulatory modernisation.
The principles discussed remain proposals, rather than adopted European requirements.
The release records regional input into FSB Plenary discussions, not new binding measures.