Stress Test Working Group meeting held, organized by the European Forum of Deposit Insurers (EFDI)

Representatives from DIFK, Senior Compensation Officer and Senior Information Technology (IT) Officer participated in the meeting held with the Stress Testing Working Group, hosted by the Deposit and Investment Guarantee Fund of Greece (TEKE) and organized by EFDI.

The discussion revolved around the challenges faced by deposit insurers during the organization and execution of stress tests, the adaptation of solutions, challenges in assessing/reporting test results in accordance with reporting provisions and current European Banking Authority (EBA) guidelines.

Also, ideas for future crisis simulations, regular Single Customer View tests, and transitions from manual reviews to IT-based SCV reviews, were presented.

Additionally, discussions extended to the challenges posed by potential cyber-attacks which may affect the fulfillment of deposit insurers’ objectives, defensive measures, detection, and responses to such attacks.