ECB announced launch of the Cyber Information and Intelligence Sharing Initiative (CIISI-EU) in EU to share vital cybersecurity threat information. In this context, ECB also published the introductory remarks of Fabio Panetta of ECB, who also Chairs the Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB), at the fourth meeting of ECRB. In the coming months, ECB will publish the framework for the CIISI-EU to encourage other jurisdictions to follow suit.
The core objectives of the initiative are to:
- Protect the financial system by preventing, detecting, and responding to cyber-attacks
- Facilitate the sharing of information and good practices between financial infrastructures
- Raise awareness of cybersecurity threats
In his introductory remarks, Mr. Fabio Panetta mentioned that CIISI-EU will contribute to protecting the European economy and security. The initiative will allow the most important financial infrastructures to share vital technical information among themselves using an automated platform. Members will create a trusted community where they will meet to discuss cybersecurity threats and share related intelligence and best practices. The ECRB members will receive bi-annual threat reports informing them of strategic issues pertinent to their businesses.
Keywords: Europe, EU, Banking, PMI, Cyber Intelligence, Operational Risk, Cybersecurity, CIISI-EU, Data Sharing, Cyber Risk, ECRB, ECB
Previous ArticleEBA Publishes List of Institutions for Benchmarking Exercise in 2020
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.
Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)
The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)