Cyber – ECSDA

ECB publishes FMI cyber resilience expectations

On 3 december 2018, The ECB published the Cyber Resilience Oversight Expectations (CROE) for Financial Market Infrastructures (FMIs) following the public consultation launched from April to June 2018.

The CROE aims at providing FMIs with detailed steps on how to operationalize the Guidance on cyber resilience for FMIs published by CPMI-IOSCO in June 2016, at providing the basis for a discussion between FMIs and their overseers, and it incorporates the comments received during the consultation.

Besides, the CROE presents five primary risk managements categories and components that should be addressed through an FMIs’ cyber resilience framework. These categories are:

governance;
identification;
protection;
detection;
response & recovery.

Read the full document

Read the full response to the public consultation

ECB publishes TIBER-EU Framework

On 2 May, the European Central Bank has published the Threat Intelligence-based Ethical Red Teaming (TIBER-EU) Framework. It aims at providing a view on how to ensure controlled tests against cyber-attacks for financial institutions of all sorts.

The ECB says with regard to TIBER-EU that:

it “is the first European framework for controlled cyber hacking to test resilience of financial market entities
Framework facilitates testing for cross-border entities under oversight of several authorities
Goals are to help entities gain insight about their protection, detection and response capabilities and to help them fighting cyber attacks”

You can find more information on the ECB website.