Cyber Risk, Market Failures, and Financial Stability /:
"Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liabili...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Schriftenreihe: | IMF working paper ;
WP/17/185. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk."--Abstract |
| Beschreibung: | 1 online resource (37 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1484314158 148431378X 9781484313787 9781484314159 |
Internformat
MARC
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| 100 | 1 | |a Kopp, Emanuel, |e author. |0 http://id.loc.gov/authorities/names/no2015099837 | |
| 245 | 1 | 0 | |a Cyber Risk, Market Failures, and Financial Stability / |c by Emanuel Kopp, Lincoln Kaffenberger, and Christopher wilson. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (37 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Paper ; |v WP/17/185 | |
| 504 | |a Includes bibliographical references. | ||
| 588 | 0 | |a Online resource; title from PDF title page (EBSCO, January 2, 2019). | |
| 505 | 0 | |a Cover; Table of Contents; I. Introduction; II. Cyber Risk; A. Cyber Risk Aggregation and Intertemporal Effects; B. Impact Estimates for Cyber-Attacks; C. Cyber Risk Management; III. Market Failures; A. Information Asymmetries; B. Strategic Complementarities, Coordination Failure, and Externalities; C. Economies of Scale, Barriers to Entry and Risk Concentration; IV. Interactions of Cyber-related Market Failures and Financial Stability; V. Financial Regulation of Cyber Risk; A. Cyber as an Operational Risk; B. Guidelines; VI. Measures to Strengthen Resilience to Cyber Risk. | |
| 505 | 8 | |a A. Reducing Access Vulnerabilities while Boosting ResilienceB. Lessening Information Asymmetries; C. Designing Effective Policies; D. Address Coordination Failures and Manage Systemic Cyber Risk; References; Boxes; 1. Recent Cyber Attacks on the Financial Services Industry; 2. Cyber Insurance; 3. Approach to Critical Infrastructure; Figures; 1. Internet of Things: Devices Connected to the Internet (August 2014); 2. Sources of Threat by Type of Actor (March 2017); 3. Impact, Shock Transmission, and Control; 4. Cyber Risk Management; 5. Coverage Limits and Effective Risk Coverage. | |
| 505 | 8 | |a 6. Maturity of Software Security7. Regulatory Architecture for Cyber Risk; Tables; 1. Cyber Risk Aggregation Levels; 2. Cost of Cyber Events; 3. Estimated Annual Costs of Cyber Risk; 4. United States: Benefits, Costs, and Economic Net Benefit of Internet Use. | |
| 520 | |a "Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk."--Abstract | ||
| 650 | 0 | |a Financial risk management. |0 http://id.loc.gov/authorities/subjects/sh2005007073 | |
| 650 | 0 | |a Finance |x Data processing |x Security measures. | |
| 650 | 0 | |a Economic policy. |0 http://id.loc.gov/authorities/subjects/sh85040837 | |
| 650 | 0 | |a Business cycles. |0 http://id.loc.gov/authorities/subjects/sh85018278 | |
| 650 | 0 | |a Financial crises. |0 http://id.loc.gov/authorities/subjects/sh89002668 | |
| 650 | 0 | |a Risk management. |0 http://id.loc.gov/authorities/subjects/sh85114200 | |
| 650 | 6 | |a Finances |x Gestion du risque. | |
| 650 | 6 | |a Finances |x Informatique |x Sécurité |x Mesures. | |
| 650 | 6 | |a Politique économique. | |
| 650 | 6 | |a Cycles économiques. | |
| 650 | 6 | |a Gestion du risque. | |
| 650 | 7 | |a risk management. |2 aat | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Industrial Management. |2 bisacsh | |
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| 650 | 7 | |a Cyber Insurance. |2 imf | |
| 650 | 7 | |a Asymmetric And Private Information. |2 imf | |
| 700 | 1 | |a Kaffenberger, Lincoln, |e author. | |
| 700 | 1 | |a Wilson, Christopher, |e author. | |
| 776 | 0 | 8 | |i Print version: |a Kopp, Emanuel. |t Cyber Risk, Market Failures, and Financial Stability. |d Washington, D.C. : International Monetary Fund, ©2017 |z 9781484313787 |
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Datensatz im Suchindex
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| adam_text | |
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| author | Kopp, Emanuel Kaffenberger, Lincoln Wilson, Christopher |
| author_GND | http://id.loc.gov/authorities/names/no2015099837 |
| author_facet | Kopp, Emanuel Kaffenberger, Lincoln Wilson, Christopher |
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| contents | Cover; Table of Contents; I. Introduction; II. Cyber Risk; A. Cyber Risk Aggregation and Intertemporal Effects; B. Impact Estimates for Cyber-Attacks; C. Cyber Risk Management; III. Market Failures; A. Information Asymmetries; B. Strategic Complementarities, Coordination Failure, and Externalities; C. Economies of Scale, Barriers to Entry and Risk Concentration; IV. Interactions of Cyber-related Market Failures and Financial Stability; V. Financial Regulation of Cyber Risk; A. Cyber as an Operational Risk; B. Guidelines; VI. Measures to Strengthen Resilience to Cyber Risk. A. Reducing Access Vulnerabilities while Boosting ResilienceB. Lessening Information Asymmetries; C. Designing Effective Policies; D. Address Coordination Failures and Manage Systemic Cyber Risk; References; Boxes; 1. Recent Cyber Attacks on the Financial Services Industry; 2. Cyber Insurance; 3. Approach to Critical Infrastructure; Figures; 1. Internet of Things: Devices Connected to the Internet (August 2014); 2. Sources of Threat by Type of Actor (March 2017); 3. Impact, Shock Transmission, and Control; 4. Cyber Risk Management; 5. Coverage Limits and Effective Risk Coverage. 6. Maturity of Software Security7. Regulatory Architecture for Cyber Risk; Tables; 1. Cyber Risk Aggregation Levels; 2. Cost of Cyber Events; 3. Estimated Annual Costs of Cyber Risk; 4. United States: Benefits, Costs, and Economic Net Benefit of Internet Use. |
| ctrlnum | (OCoLC)1001379511 |
| dewey-full | 658.15 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.15 |
| dewey-search | 658.15 |
| dewey-sort | 3658.15 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBA-on1001379511 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:27:58Z |
| institution | BVB |
| isbn | 1484314158 148431378X 9781484313787 9781484314159 |
| language | English |
| oclc_num | 1001379511 |
| open_access_boolean | |
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| publisher | International Monetary Fund, |
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| series | IMF working paper ; |
| series2 | IMF Working Paper ; |
| spelling | Kopp, Emanuel, author. http://id.loc.gov/authorities/names/no2015099837 Cyber Risk, Market Failures, and Financial Stability / by Emanuel Kopp, Lincoln Kaffenberger, and Christopher wilson. [Washington, D.C.] : International Monetary Fund, [2017] ©2017 1 online resource (37 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; WP/17/185 Includes bibliographical references. Online resource; title from PDF title page (EBSCO, January 2, 2019). Cover; Table of Contents; I. Introduction; II. Cyber Risk; A. Cyber Risk Aggregation and Intertemporal Effects; B. Impact Estimates for Cyber-Attacks; C. Cyber Risk Management; III. Market Failures; A. Information Asymmetries; B. Strategic Complementarities, Coordination Failure, and Externalities; C. Economies of Scale, Barriers to Entry and Risk Concentration; IV. Interactions of Cyber-related Market Failures and Financial Stability; V. Financial Regulation of Cyber Risk; A. Cyber as an Operational Risk; B. Guidelines; VI. Measures to Strengthen Resilience to Cyber Risk. A. Reducing Access Vulnerabilities while Boosting ResilienceB. Lessening Information Asymmetries; C. Designing Effective Policies; D. Address Coordination Failures and Manage Systemic Cyber Risk; References; Boxes; 1. Recent Cyber Attacks on the Financial Services Industry; 2. Cyber Insurance; 3. Approach to Critical Infrastructure; Figures; 1. Internet of Things: Devices Connected to the Internet (August 2014); 2. Sources of Threat by Type of Actor (March 2017); 3. Impact, Shock Transmission, and Control; 4. Cyber Risk Management; 5. Coverage Limits and Effective Risk Coverage. 6. Maturity of Software Security7. Regulatory Architecture for Cyber Risk; Tables; 1. Cyber Risk Aggregation Levels; 2. Cost of Cyber Events; 3. Estimated Annual Costs of Cyber Risk; 4. United States: Benefits, Costs, and Economic Net Benefit of Internet Use. "Cyber-attacks on financial institutions and financial market infrastructures are becoming more common and more sophisticated. Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies. This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks. Furthermore, this study examines the current regulatory frameworks and supervisory approaches, and identifies information asymmetries and other inefficiencies that hamper the detection and management of systemic cyber risk. The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk."--Abstract Financial risk management. http://id.loc.gov/authorities/subjects/sh2005007073 Finance Data processing Security measures. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Business cycles. http://id.loc.gov/authorities/subjects/sh85018278 Financial crises. http://id.loc.gov/authorities/subjects/sh89002668 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Finances Gestion du risque. Finances Informatique Sécurité Mesures. Politique économique. Cycles économiques. Gestion du risque. risk management. aat BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Business cycles fast Economic policy fast Financial crises fast Financial risk management fast Risk management fast All Countries. imf Cyber Regulation. imf Cyber Insurance. imf Asymmetric And Private Information. imf Kaffenberger, Lincoln, author. Wilson, Christopher, author. Print version: Kopp, Emanuel. Cyber Risk, Market Failures, and Financial Stability. Washington, D.C. : International Monetary Fund, ©2017 9781484313787 IMF working paper ; WP/17/185. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577280 Volltext |
| spellingShingle | Kopp, Emanuel Kaffenberger, Lincoln Wilson, Christopher Cyber Risk, Market Failures, and Financial Stability / IMF working paper ; Cover; Table of Contents; I. Introduction; II. Cyber Risk; A. Cyber Risk Aggregation and Intertemporal Effects; B. Impact Estimates for Cyber-Attacks; C. Cyber Risk Management; III. Market Failures; A. Information Asymmetries; B. Strategic Complementarities, Coordination Failure, and Externalities; C. Economies of Scale, Barriers to Entry and Risk Concentration; IV. Interactions of Cyber-related Market Failures and Financial Stability; V. Financial Regulation of Cyber Risk; A. Cyber as an Operational Risk; B. Guidelines; VI. Measures to Strengthen Resilience to Cyber Risk. A. Reducing Access Vulnerabilities while Boosting ResilienceB. Lessening Information Asymmetries; C. Designing Effective Policies; D. Address Coordination Failures and Manage Systemic Cyber Risk; References; Boxes; 1. Recent Cyber Attacks on the Financial Services Industry; 2. Cyber Insurance; 3. Approach to Critical Infrastructure; Figures; 1. Internet of Things: Devices Connected to the Internet (August 2014); 2. Sources of Threat by Type of Actor (March 2017); 3. Impact, Shock Transmission, and Control; 4. Cyber Risk Management; 5. Coverage Limits and Effective Risk Coverage. 6. Maturity of Software Security7. Regulatory Architecture for Cyber Risk; Tables; 1. Cyber Risk Aggregation Levels; 2. Cost of Cyber Events; 3. Estimated Annual Costs of Cyber Risk; 4. United States: Benefits, Costs, and Economic Net Benefit of Internet Use. Financial risk management. http://id.loc.gov/authorities/subjects/sh2005007073 Finance Data processing Security measures. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Business cycles. http://id.loc.gov/authorities/subjects/sh85018278 Financial crises. http://id.loc.gov/authorities/subjects/sh89002668 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Finances Gestion du risque. Finances Informatique Sécurité Mesures. Politique économique. Cycles économiques. Gestion du risque. risk management. aat BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Business cycles fast Economic policy fast Financial crises fast Financial risk management fast Risk management fast All Countries. imf Cyber Regulation. imf Cyber Insurance. imf Asymmetric And Private Information. imf |
| subject_GND | http://id.loc.gov/authorities/subjects/sh2005007073 http://id.loc.gov/authorities/subjects/sh85040837 http://id.loc.gov/authorities/subjects/sh85018278 http://id.loc.gov/authorities/subjects/sh89002668 http://id.loc.gov/authorities/subjects/sh85114200 |
| title | Cyber Risk, Market Failures, and Financial Stability / |
| title_auth | Cyber Risk, Market Failures, and Financial Stability / |
| title_exact_search | Cyber Risk, Market Failures, and Financial Stability / |
| title_full | Cyber Risk, Market Failures, and Financial Stability / by Emanuel Kopp, Lincoln Kaffenberger, and Christopher wilson. |
| title_fullStr | Cyber Risk, Market Failures, and Financial Stability / by Emanuel Kopp, Lincoln Kaffenberger, and Christopher wilson. |
| title_full_unstemmed | Cyber Risk, Market Failures, and Financial Stability / by Emanuel Kopp, Lincoln Kaffenberger, and Christopher wilson. |
| title_short | Cyber Risk, Market Failures, and Financial Stability / |
| title_sort | cyber risk market failures and financial stability |
| topic | Financial risk management. http://id.loc.gov/authorities/subjects/sh2005007073 Finance Data processing Security measures. Economic policy. http://id.loc.gov/authorities/subjects/sh85040837 Business cycles. http://id.loc.gov/authorities/subjects/sh85018278 Financial crises. http://id.loc.gov/authorities/subjects/sh89002668 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Finances Gestion du risque. Finances Informatique Sécurité Mesures. Politique économique. Cycles économiques. Gestion du risque. risk management. aat BUSINESS & ECONOMICS Industrial Management. bisacsh BUSINESS & ECONOMICS Management. bisacsh BUSINESS & ECONOMICS Management Science. bisacsh BUSINESS & ECONOMICS Organizational Behavior. bisacsh Business cycles fast Economic policy fast Financial crises fast Financial risk management fast Risk management fast All Countries. imf Cyber Regulation. imf Cyber Insurance. imf Asymmetric And Private Information. imf |
| topic_facet | Financial risk management. Finance Data processing Security measures. Economic policy. Business cycles. Financial crises. Risk management. Finances Gestion du risque. Finances Informatique Sécurité Mesures. Politique économique. Cycles économiques. Gestion du risque. risk management. BUSINESS & ECONOMICS Industrial Management. BUSINESS & ECONOMICS Management. BUSINESS & ECONOMICS Management Science. BUSINESS & ECONOMICS Organizational Behavior. Business cycles Economic policy Financial crises Financial risk management Risk management All Countries. Cyber Regulation. Cyber Insurance. Asymmetric And Private Information. |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577280 |
| work_keys_str_mv | AT koppemanuel cyberriskmarketfailuresandfinancialstability AT kaffenbergerlincoln cyberriskmarketfailuresandfinancialstability AT wilsonchristopher cyberriskmarketfailuresandfinancialstability |