Featured Product

    FSB Reports Progress on Work on Cyber Incident Response and Recovery

    May 28, 2019

    FSB published a progress report on its work on developing effective practices for financial institutions’ response to, and recovery from, a cyber incident. FSB has delivered the report to G20 Finance Ministers and Central Bank Governors, ahead of their meetings in Fukuoka on June 8-9. As part of its work program to enhance the cyber resilience of financial institutions, FSB is developing a toolkit of effective practices for a financial institution’s response to, and recovery from, a cyber incident. The toolkit aims to help supervisors and other relevant authorities in supporting financial institutions before, during, and after a cyber incident.

    This project seeks to mitigate the implications of cyber incidents on financial stability, by taking into account their cross-border and cross-sectoral nature. It will also leverage on the shared experience and diversity of perspectives gathered in the course of this work. The development of effective practices will draw on a stocktake of publicly released guidance from national authorities and international bodies, a review of case studies on past cyber incidents, and engagements with external stakeholders.

    The development of the toolkit of effective practices for financial institution’s response to, and recovery from, a cyber incident will be taken forward in two phases. The first phase of work will continue until October 2019 and focus on identifying and developing effective practices. As part of its outreach, FSB will launch an online survey in July, which will help to identify effective practices at financial institutions. The second phase of work will likely commence during the last quarter of this year and will focus on drafting of the toolkit. A public consultation on the report will be launched in early 2020 and the toolkit of effective practices will be finalized in late 2020. 

     

    Related Links

    Keywords: International, Banking, Insurance, Securities, PMI, Cyber Incident, Financial Stability, G20, Cyber Risk, Cyber Resilience, FSB

    Related Articles
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    FINMA Outlines Treatment of Stablecoins in Supplement to Guide on ICO

    FINMA published a supplement to its initial coin offerings (ICOs) guidelines, outlining the treatment for stablecoins under the Swiss supervisory law.

    September 11, 2019 WebPage Regulatory News
    News

    Ursula von der Leyen Presents Structure of Next European Commission

    President-elect Ursula von der Leyen has presented her team and the new structure of the next European Commission.

    September 10, 2019 WebPage Regulatory News
    News

    FED Proposes to Revise and Extend Reporting Form on Systemic Risk

    FED proposed to extend for three years, with revision, the Banking Organization Systemic Risk Report (FR Y-15; OMB No. 7100-0352).

    September 10, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting

    EBA published the revised list of validation rules (version 2.9) in its implementing technical standards on supervisory reporting.

    September 10, 2019 WebPage Regulatory News
    News

    Bundesbank Publishes Supplementary Validation Rules for Reporting

    Bundesbank published the updated document containing supplementary validation rules in the context of the implementation of the reporting system at national level.

    September 10, 2019 WebPage Regulatory News
    News

    APRA Licenses Xinja Bank as Authorized Deposit-Taking Institution

    APRA granted Xinja Bank Limited a license to operate as an authorized deposit-taking institution without restrictions, under the Banking Act 1959.

    September 09, 2019 WebPage Regulatory News
    News

    FDIC Proposes Revisions to Regulations on Interest Rate Restrictions

    FDIC proposed revisions to its regulations covering interest rate restrictions that apply to less than well-capitalized insured depository institutions.

    September 09, 2019 WebPage Regulatory News
    News

    EBA Intends to Clarify End-Treatment of Grandfathered Instruments

    EBA announced its intention to clarify the prudential treatment applicable to own funds instruments at the end of the grandfathering period, which expires on December 31, 2021.

    September 09, 2019 WebPage Regulatory News
    News

    IMF Releases Reports on 2019 Article IV Consultation with Saudi Arabia

    IMF published its staff report and selected issues report in context of the 2019 Article IV consultation with Saudi Arabia.

    September 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3799