ECB supervisory board chair Andrea Enria visits Estonia

TALLINN – Andrea Enria, the head of banking supervision at the European Central Bank (ECB), visited Estonia on Thursday and Friday to meet with the management board of the Estonian Financial Supervision Authority (FSA) 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, or Luminor Bank, Swedbank and SEB Pank, the Estonian FSA said in a press release. 

Enria said that the financial supervision of 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.

The chairman of the board of the Estonian FSA, Kilvar Kessler, said that the proposed Digital Operational Resilience Act (DORA), a regulation aimed to reduce 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.

Enria has been in charge of banking supervision at the ECB since January 2019.