[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-detail-202971-en":59,"doc-seo-202971-105":82},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":5,"data":60},{"doc_id":61,"user_id":62,"nickname":63,"user_avatar":64,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":66,"doc_content":67,"file_id":68,"file_url":69,"file_type":70,"file_size":71,"view_count":72,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":73,"language":74,"language_code":75,"site_id":76,"html_lang":75,"table_of_contents":77,"faqs":78,"seo_title":79,"seo_description":66,"update_tm":80,"read_time":81,"preview_page_count":4},202971,962084925502,"Emma Mercer","https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","Advancing macroprudential tools for cyber resilience - February 2023","The ESRB’s February 2023 report addresses a markedly heightened cyber threat environment across Europe and its direct and indirect effects on Ukraine and EU Member States, including attacks and sabotage targeting power and telecommunications infrastructure that underpin the financial sector. It outlines responses focused on improving cross-jurisdiction information exchange and strengthening preparedness. Key work includes advancing cyber resilience scenario testing (CyRST), developing systemic impact tolerance objectives (SITOs), and reviewing financial crisis management tools for system-wide cyber incidents.","Advancing macroprudential tools for cyber resilience  \nFebruary 2023  \nContents  \nExecutive summary 3  \n1 Introduction 5  \n2 Cyber resilience scenario testing (CyRST) 9  \n2.1 Closing a gap in the analytical toolkit 9  \nBox 1 Cyber resilience scenario testing (CyRST) 11  \n2.2 Key findings 11  \n2.3 A conceptual approach to CyRST 12  \nBox 2 The Bank of England and the Danish FSA experience 13  \nBox 3 Scenario development in a pilot 19  \n2.4 Next steps 20  \n3 Systemic impact tolerance objective (SITO) 21  \n3.1 SITO – concept and main purpose 21  \nBox 4 Existing and upcoming initiatives for the financial sector related to  \nimpact tolerances 22  \n3.2 Operationalising SITOs 24  \n3.3 Beyond SITOs – intervention ladder thresholds 25  \nBox 5 Relationship between SITOs and CyRST 26  \n3.4 Next steps 26  \n4 Financial crisis management tools and systemic cyber events 28  \n4.1 Financial policy tools considered 28  \n4.2 Key findings 29  \nBox 6 Reserve solutions in payment terminals 34  \n4.3 Next steps 35  \n5 Conclusion 36  \nReferences 37  \nImprint and acknowledgements 39  \nAdvancing macroprudential tools for cyber resilience / February 2023 Contents  \n2  \nExecutive summary  \nThe ESRB worked in 2022 within the context of a substantially heightened cyber threat environment across Europe. The cyber activity resulting from Russia’s invasion of Ukraine have affected both Ukraine and EU Member States directly and indirectly. Furthermore, an increase in cyber attacks and the active sabotage of power and telecommunications infrastructure in EU Member States – which the financial sector relies on – present significant threats to financial stability.  \nThe ESRB responded to this heightened cyber threat environment by:  \n• Enhancing the exchange of information across jurisdictions and authorities. 1  \n• Focusing on the tools and elements needed to advance cyber resilience and strengthen preparedness for potential cyber incidents.  \n• Advancing a cyber resilience scenario testing (CyRST) approach: the ESRB completed further work on this approach, which could support authorities in (i) testing the response and recovery capacity of the financial system against severe but plausible scenarios involving a cyber incident, (ii) evaluating their impact on financial and operational stability , and (iii) identifying areas where further work is required to mitigate cyber risks.  \n• Developing the concept for a systemic impact tolerance objective (SITO) : the ESRB worked on developing SITOs, which can assist in identifying and measuring the impacts of cyber incidents on the financial system, and evaluating when they are likely to breach tolerance levels and cause significant disruption.  \n• Reviewing current financial crisis management tools: the ESRB evaluated whether these tools are sufficient for adequately responding to system-wide cyber incidents.  \nThe heightened cyber threat environment across Europe calls for a step change in enhancing system-wide cyber resilience. The resistance and detection capabilities of individual entities constitute a first layer of defence against cyber incidents. The Digital Operational Resilience Act (DORA)2 is part of an ongoing effort at the EU level to improve the cyber resilience of individual entities. Threat-led penetration tests outlined by DORA, such as the European Framework for Threat Intelligence-based Ethical Red Teaming (TIBER-EU), provide a way of testing this first layer of defence. However, further layers of defence are needed to increase the resilience of the financial system as a whole against cyber incidents.  \nAgainst this background, the ESRB has three key areas of focus.  \n1 “Authorities” refers to national and EU public authorities engaged in operational or financial supervisory and oversight activities, as well as central banks.  \n2 See Digital Operational Resilience Act (DORA) .  \n• The ESRB encourages authorities to use the CyRST approach to pilot system-wide cyber resilience scenario testing as soon as p","cbCaicbvGuZAr74a","https://ap.wps.com/l/cbCaicbvGuZAr74a","pdf",659790,12,41,"English","en",105,"# Executive summary\n# 1 Introduction\n# 2 Cyber resilience scenario testing (CyRST)\n## 2.1 Closing a gap in the analytical toolkit\n## 2.2 Key findings\n## 2.3 A conceptual approach to CyRST\n## 2.4 Next steps\n# 3 Systemic impact tolerance objective (SITO)\n## 3.1 SITO – concept and main purpose\n## 3.2 Operationalising SITOs\n## 3.3 Beyond SITOs – intervention ladder thresholds\n## 3.4 Next steps\n# 4 Financial crisis management tools and systemic cyber events\n## 4.1 Financial policy tools considered\n## 4.2 Key findings\n## 4.3 Next steps\n# 5 Conclusion\n# References\n# Imprint and acknowledgements","[{\"question\":\"What cyber threats and impacts does the ESRB highlight for financial stability in 2022?\",\"answer\":\"The report describes heightened cyber threats across Europe, including activities linked to Russia’s invasion of Ukraine and increased cyber attacks and sabotage of power and telecommunications infrastructure. These threats create significant risks for financial stability, both directly and indirectly.\"},{\"question\":\"How does the ESRB’s CyRST approach support authorities?\",\"answer\":\"The ESRB advances a cyber resilience scenario testing approach to help authorities test response and recovery capacity under severe but plausible cyber incidents. It also supports evaluating impacts on financial and operational stability and identifying where further mitigation work is needed.\"},{\"question\":\"What is the purpose of systemic impact tolerance objectives (SITOs)?\",\"answer\":\"SITOs are used to identify and measure impacts of cyber incidents on the financial system and to evaluate when impacts are likely to breach tolerance levels and trigger significant disruption. The ESRB plans to transition from a conceptual approach to practical implementation and define SITOs at EU level for economic functions with cross-border implications.\"}]","Advancing macroprudential tools for cyber resilience - February 2023 | PDF",1788552980,103,{"code":4,"msg":83,"data":84},"ok",{"site_id":76,"language":75,"slug":85,"title":65,"keywords":86,"description":66,"schema_data":87,"social_meta":141,"head_meta":143,"extra_data":145,"updated_unix":80},"advancing-macroprudential-tools-for-cyber-resilience-february-2023","",{"@graph":88,"@context":140},[89,103,123],{"@type":90,"itemListElement":91},"BreadcrumbList",[92,96,98,101],{"item":93,"name":94,"@type":95,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":97,"name":9,"@type":95,"position":14},"https://docshare.wps.com/document/",{"item":99,"name":40,"@type":95,"position":100},"https://docshare.wps.com/document/research-report/",3,{"item":102,"name":65,"@type":95,"position":19},"https://docshare.wps.com/document/advancing-macroprudential-tools-for-cyber-resilience-february-2023/202971/",{"url":102,"name":65,"@type":104,"image":105,"author":110,"headline":65,"publisher":112,"fileFormat":115,"inLanguage":75,"description":66,"dateModified":116,"datePublished":117,"encodingFormat":115,"isAccessibleForFree":118,"interactionStatistic":119},"DigitalDocument",{"url":106,"@type":107,"width":108,"height":109},"https://docshare.wps.com/thumbnails/advancing-macroprudential-tools-for-cyber-resilience-february-2023/202971.png","ImageObject",300,407,{"name":63,"@type":111},"Person",{"url":93,"name":113,"@type":114},"DocShare","Organization","application/pdf","2026-10-29","2026-09-04",true,{"@type":120,"interactionType":121,"userInteractionCount":72},"InteractionCounter",{"@type":122},"ViewAction",{"@type":124,"mainEntity":125},"FAQPage",[126,132,136],{"name":127,"@type":128,"acceptedAnswer":129},"What cyber threats and impacts does the ESRB highlight for financial stability in 2022?","Question",{"text":130,"@type":131},"The report describes heightened cyber threats across Europe, including activities linked to Russia’s invasion of Ukraine and increased cyber attacks and sabotage of power and telecommunications infrastructure. These threats create significant risks for financial stability, both directly and indirectly.","Answer",{"name":133,"@type":128,"acceptedAnswer":134},"How does the ESRB’s CyRST approach support authorities?",{"text":135,"@type":131},"The ESRB advances a cyber resilience scenario testing approach to help authorities test response and recovery capacity under severe but plausible cyber incidents. It also supports evaluating impacts on financial and operational stability and identifying where further mitigation work is needed.",{"name":137,"@type":128,"acceptedAnswer":138},"What is the purpose of systemic impact tolerance objectives (SITOs)?",{"text":139,"@type":131},"SITOs are used to identify and measure impacts of cyber incidents on the financial system and to evaluate when impacts are likely to breach tolerance levels and trigger significant disruption. 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