This paper builds on an earlier SIPA-authored publication, “The Future of Financial Stability and Cyber Risk,” published by the Brookings Institution in October 2018.
The first paper provides a general review of cyber risk to financial stability, contains a primer on financial stability and cyber risks, and highlights how cyber risks are different from other systemic financial risks. It also summarizes previous reports and efforts of policymakers and industry addressing these issues.
The second paper, published by SIPA, developed a unique framework to assist analysts trying to assess how specific cyber risks might affect financial stability.
The Cyber Risks to Financial Stability Project team includes: Jason Healey, director of the Program on Future Cyber Risks and a senior research scholar at SIPA; Patricia Mosser, director of the Initiative on Central Banking and Financial Policy and a senior research scholar and senior fellow at SIPA; Katheryn Rosen, adjunct professor of international and public affairs at SIPA and a former deputy assistant secretary for financial institutions policy of the U.S. Department of Treasury. The project also includes Merit E. Janow, the dean of SIPA.