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A macroprudential perspective on cyber risk

Author

Listed:
  • Helga Koo
  • Remco van der Molen
  • Robert Vermeulen
  • Ralph Verhoeks
  • Alessandro Pollastri

Abstract

Cyber risk is an increasingly important source of risk, not just to individual financial institutions, but also to the financial system as whole. The number of cyber incidents has increased over the past years, and the incidents have become more costly. Several features of the financial system make it especially exposed to cyber risk. Even though many financial institutions have increased their cyber resilience, cyber incidents will keep occurring and have the potential to cause major damage to the financial sector. Therefore, it is important to also develop a macroprudential perspective on cyber risk.

Suggested Citation

  • Helga Koo & Remco van der Molen & Robert Vermeulen & Ralph Verhoeks & Alessandro Pollastri, 2022. "A macroprudential perspective on cyber risk," Occasional Studies 2001, DNB.
    • Handle: RePEc:dnb:dnbocs:2001
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    File URL: https://www.dnb.nl/media/ty3dx3t0/cyber-risicos.pdf
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    References listed on IDEAS

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    1. Aldasoro, Iñaki & Gambacorta, Leonardo & Giudici, Paolo & Leach, Thomas, 2022. "The drivers of cyber risk," Journal of Financial Stability, Elsevier, vol. 60(C).
    2. Anneke Kosse & Zhentong Lu, 2022. "Transmission of Cyber Risk Through the Canadian Wholesale Payment System," Staff Working Papers 22-23, Bank of Canada.
    3. Aberg, Pontus & Corsi, Marco & Grossmann-Wirth, Vincent & Hudepohl, Tom & Mudde, Yvo & Rosolin, Tiziana & Schobert, Franziska, 2021. "Demand for central bank reserves and monetary policy implementation frameworks: the case of the Eurosystem," Occasional Paper Series 282, European Central Bank.
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    Cited by:

    1. José Ramón Martínez Resano, 2022. "Digital resilience and financial stability. The quest for policy tools in the financial sector," Revista de Estabilidad Financiera, Banco de España, issue NOV.
    2. Michiel Bijlsma & Carin van der Cruijsen & Nicole Jonker & Jelmer Reijerink, 2021. "What triggers consumer adoption of CBDC?," Working Papers 709, DNB.
    3. José Ramón Martínez Resano, 2022. "Digital resilience and financial stability. The quest for policy tools in the financial sector," Financial Stability Review, Banco de España, issue NOV.
    4. José Ramón Martínez Resano, 2022. "Digital resilience and financial stability. The quest for policy tools in the financial sector," Financial Stability Review, Banco de España, issue Autumn.

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