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Mitigating systemic cyber risk : January 2022

Recurso electrónico / Electronic resource
MARC record
Tag12Value
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001  MAP20220003339
003  MAP
005  20220201155912.0
008  220201s2022 deu|||| ||| ||eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎7
24510‎$a‎Mitigating systemic cyber risk‎$b‎: January 2022
260  ‎$a‎Frankfurt‎$b‎ European Systemic Risk Board‎$c‎2022
300  ‎$a‎46 p.
520  ‎$a‎The constantly evolving cyber risk landscape and recent increase in cyber incidents are indicators of a greater threat to financial stability within the European Union. In the worst case, a cyber incident could affect operational systems in the financial system and impair the provision of critical economic functions, trigger financial contagion or lead to an erosion of confidence in the financial system. If the financial system is not able to absorb these shocks, financial stability is likely to be put at risk and a systemic cyber crisis could unfold (ESRB, 2020). Of particular importance is the need to overcome the risk to financial stability stemming from coordination failure during the response to an incident. A cyber incident's scale, speed and propagation call for a swift response from firms and financial authorities in order to preserve financial stability. Financial authorities in the EU need to coordinate among themselves, at global level and with parties that they do not usually interact with, such as cyber authorities. The risk of a coordination failure by authorities also exists. Uncoordinated action could contradict or even jeopardise the response of other authorities, lead to an erosion of confidence in the functioning of the financial system and thereby amplify the shock for the financial system. In the worst case, financial stability may be threatened.
650 4‎$0‎MAPA20210003813‎$a‎Mitigación de riesgos
650 4‎$0‎MAPA20160007633‎$a‎Ciberriesgos
650 4‎$0‎MAPA20100016923‎$a‎Riesgo sistémico
650 4‎$0‎MAPA20100017982‎$a‎Riesgos emergentes
650 4‎$0‎MAPA20110021238‎$a‎Estabilidad financiera
7102 ‎$0‎MAPA20190002455‎$a‎European Systemic Risk Board
7870 ‎$w‎MAP20240007904‎$t‎Advancing macroprudential tools for cyber resilience - Operational policy tools : A review of national and pan-European frameworks‎$d‎Frankfurt : European Systemic Risk Board, 2024