Featured Product

    ECB Publishes Services Procurement Guidelines for TIBER-EU Tests

    August 07, 2018

    ECB published the Services Procurement Guidelines, which are referred to in, and are an integral part of, the Threat Intelligence-Based Ethical Red Teaming (TIBER-EU) framework. The guidelines set out in detail the different elements of TIBER-EU procurement. TIBER-EU framework enables European and national authorities to work with financial infrastructures and institutions to put in place a program to test and improve their resilience against sophisticated cyber attacks. Due to the sensitive nature of TIBER-EU tests, entities need to carefully select threat intelligence and red teaming providers that can provide an appropriate level of professional expertise and support for conducting the test.

    The first part of the document sets out the requirements and standards that must be met by threat intelligence providers to deliver recognized TIBER-EU tests and offers guiding principles and selection criteria for entities, as they look to procure services from prospective providers. Then, the document sets out the requirements and standards that must be met by red teaming providers to deliver recognized TIBER-EU tests and offer guiding principles and selection criteria for entities, as they look to procure services from prospective providers. Next, it provides guidance to authorities that are looking to implement TIBER-EU at the national and European levels, with regard to procurement. Annex 1 provides a list of certifications that staff members and providers may be, depending on the case, required to possess. Annexes 2-5 provide questions that entities could use when considering prospective providers and agreement checklists to assist the procurement functions during their procurement process.

    The guidelines are directed at authorities responsible for the adoption, implementation, and management of the TIBER-EU Framework at national and European levels; entities looking to undertake TIBER-EU tests; organizations interested in providing cyber threat intelligence services under TIBER-EU; organizations interested in providing red team testing services under TIBER-EU; and accreditation and certification providers. As the TIBER-EU Framework is implemented across EU, the TIBER-EU Knowledge Center (TKC) will monitor the evolution of the threat intelligence and red team testing market and update the requirements, if necessary. TKC will undertake this task by closely liaising with the authorities that adopt the TIBER-EU Framework, the entities that undertake the tests, and the threat intelligence/red teaming providers that deliver the tests.

     

    Related Link: Guidelines (PDF)

    Keywords: Europe, EU, Banking, Insurance, Securities, PMI, Cyber Risk, TIBER-EU, Cyber Resilience, Procurement Services Guidelines, ECB

    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153