EACB response to the Commission Consultation on the revision of the NIS Directive

The members of the European Asociation of Co-operative Banks (EACB) welcome and support the new “NIS Directive” (directive on security of network and information systems across the Union), as we all become increasingly dependent on digital technologies and vice versa vulnerable and exposed to cyber-risks. As technology is moving on rather fast, it is important to agree on principle-based regulation, while leaving the technical details to the market participants. In general the approach of "same business, same risk, same rules" is appreciated, but it is also important that all participants in the market are included in the regulation without acceptance. Additionally it is important that security on the one side is always in line with benefits for consumers and convenience for customers on the other side, which requires a balanced approach.