This article is interesting for two reasons:
- The increase in information-sharing between organizations and with regulators re cybersecurity, and
- The messaging from financial regulators that regulated institutions better not lose focus on rare, but potentially high-impact risk events. This is something that all organizations should do, not just financial institutions.
“It’s really important to think about those tail events that you hope never occur at your institution, but can possibly occur,” said Boston Fed President Eric Rosengren at the conference. “My view is we are making a lot of progress in this area, but there is a lot more to be done.”