Chinese financial outlet Cailian Press (财联社) reported the news on 6 November, and Sina Finance published the report. On 7 November, 36Kr published a story by financial outlet Jiemian (界面), which said the matter had been reported on 6 November. Jiemian bases its story on other reports without naming them, and Cailian Press cites unnamed sources familiar with the matter.

Senior ECB officials have raised the idea internally and in discussions with the banks the ECB supervises, Cailian Press’s sources said. Cailian Press describes the ECB as the euro area’s top banking supervisor.

One of the sources said the review could take the form of on-site inspections at banks. It would examine how banks calculate future cash flows from data centre projects and the value of collateral. It would also look at how banks prepare for a borrower defaulting.

A second source stressed that any review would not be as broad as the one the ECB carried out a few years ago into banks’ leveraged finance. That review caused discontent among banks. The ECB has not yet decided how it will examine data centres and wider AI-related risks, the same source said. Jiemian reported that the review may be narrower than the leveraged finance review and that the plan has not been finalised.

Lending to data centres has grown rapidly, Cailian Press reported. The concern is that rising interest rates and growing opposition to data centre projects could increase pressure. Banking supervisors around the world are scrutinising banks’ AI risks more closely than before, the report said.