The European Central Bank (ECB) has identified significant shortcomings in banks' capabilities to handle cyber attacks, following a recent stress test. The ECB emphasized the need for continued investment in cybersecurity measures, as the test revealed that while banks have established response and recovery frameworks, there remains considerable room for improvement. ECB Supervisory Board member Anneli Tuominen highlighted the critical importance of cyber resilience in safeguarding the banking sector, stating that the findings will inform the banks' annual health checks for 2024. This assessment underscores the ongoing challenges faced by financial institutions in enhancing their defenses against cyber threats.