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Cybersecurity and Financial Stability: Risks and Resilience

Cybersecurity incidents can cause real harm to the operations and customers of a financial firm. Moreover, firms and regulators widely agree that these incidents can also threaten the stability of the financial system. The next step for regulators and industry is to address those risks. This OFR viewpoint shows how regulators and industry can build on their approaches to cybersecurity to promote financial stability. It describes how a cybersecurity incident could threaten financial stability through three channels: Incidents can (1) disrupt the operations of a financial firm that provides critical services, (2) reduce confidence in firms and markets, and (3) damage the integrity of key data.

Spotlight

CACI Ltd

CACI offer an unrivalled range of marketing solutions and information systems to a wide range of industries across both private and public sectors. CACI Marketing Solutions CACI's marketing solutions are based on both an in-depth understanding of individual consumer behaviour, as well as expertise on how geographical locations (towns, shopping centres, individual stores) influence the way consumers buy products and services. CACI offers a combination of data, software and consultancy. Data products include a range of individual, household and postcode level consumer classifications, for example Acorn, as well as information on income, house prices, Internet usage and more. CACI IT Solutions CACI's IT solutions business provides systems integration, software applications and consultancy services to organisations from across the public and private sector. From data integration, web reporting and activity based costing to mobile working, telecom operational support systems, online transac

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Cybersecurity and Financial Stability: Risks and Resilience