The making of a cyber crash: a conceptual model for systemic risk in the financial sector

Greg Ros

No 16, ESRB Occasional Paper Series from European Systemic Risk Board

Abstract: In October 2017, the European Systemic Risk Board (ESRB) set up a group whose objective was to examine cyber security vulnerabilities within the financial sector, and their potential impact on financial stability and the real economy. In its first year, the European Systemic Cyber Group (ESCG) sought to develop a shared understanding of Common Individual Vulnerabilities (CIVs) across ESRB members, and to identify the unique characteristics of cyber risk that could contribute to a systemic event. Building on this work, this paper describes a conceptual model for systemic cyber risk. JEL Classification: E17, G01, G20, K24, L86, M15, O33

Date: 2020-05
New Economics Papers: this item is included in nep-gen and nep-rmg
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Citations: View citations in EconPapers (3)

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