The European Central Bank said today that credit risk, cybercrime and Brexit are one of the biggest risks facing Eurozone banks in 2019.
The euro zone's economic growth has reduced overall economic uncertainty, but global risk factors from protectionism to hard Brexit and growing turmoil in emerging markets require more scrutiny, the ECB said.
With regard to Brexit, the European Central Bank stressed that banks need to prepare for any outcome in the absence of an agreement a few months before Britain's departure. It added that it will continue to press banks to reduce their non-performing loans after notable progress this year.
