Late last year, an EU bank board gathered for its routine quarterly risk review — the kind of meeting that usually revolves around familiar charts: capital buffers, loan exposures, liquidity positions. But this time, one of the board members paused over a new cluster of red indicators that hadn’t been on the dashboard a decade ago. Cyber intrusions. Geopolitical flashpoints. Sanctions volatility. A spike in operational disruptions tied to third-party technology providers. He