The European Supervisory Authorities, consisting of the EBA, EIOPA, and ESMA, have expressed support for the European Systemic Risk Board's warning regarding the systemic cyber risks posed by frontier AI models. The ESAs acknowledge that recent advances in frontier AI models have significantly enhanced their ability to identify and exploit vulnerabilities in IT systems. The EU's regulatory framework, including DORA and the AI Act, provides a solid foundation for managing cyber and AI-related risks, but the speed and scale of these tools raise concerns about their potential impact on financial entities. The ESAs have been raising awareness about the ICT risks posed by frontier AI models and have engaged with EU competent authorities to ensure that financial entities take appropriate mitigation measures. The ESAs concur with the ESRB warning and urge financial entities to adapt their cybersecurity capabilities to address the emerging risks. They also invite competent authorities to reflect these developments in their supervisory activities and note the need for all parties to be involved in addressing these risks. The ESAs are working closely with the EU supervisory community to ensure that financial entities proactively identify and mitigate these risks in line with the requirements of DORA. The ESAs are also engaging with critical ICT third-party providers to manage risks and ensure the continuity of services provided to the EU financial sector. The ESRB's warning highlights the need for EU stakeholders to enhance their cybersecurity capacities and for relevant authorities to reflect these risks in their supervisory and oversight work. The ESAs will continue to monitor the use and development of highly cyber-capable frontier AI models and assess their potential impact on the financial sector, promoting a consistent and forward-looking supervisory approach in this area.