The ECB has ordered euro-area banks to submit action plans for frontier-AI cyber threats by end-October, as EU watchdogs flag a “severe” systemic risk.

Bank of England, ECB, and IMF officials have flagged that EU regulations are struggling to keep pace with the AI market and debt risks.

FRANKFURT, July 7 : The European Central Bank on Tuesday gave euro zone banks four months to draw up plans to counter AI-enabled cyber threats, taking a more prescriptive approach…