TY  - BOOK
AU  - Kopp,Emanuel
AU  - Kaffenberger,Lincoln
AU  - Wilson,Christopher
TI  - Cyber Risk, Market Failures, and Financial Stability
T2  - IMF Working Paper
SN  - 1484314158
AV  - HD61 .K66 2017
U1  - 658.15 23
PY  - 2017///]
CY  - [Washington, D.C.]
PB  - International Monetary Fund
KW  - Financial risk management
KW  - Finance
KW  - Data processing
KW  - Security measures
KW  - Economic policy
KW  - Business cycles
KW  - Financial crises
KW  - Risk management
KW  - BUSINESS & ECONOMICS
KW  - Industrial Management
KW  - bisacsh
KW  - Management
KW  - Management Science
KW  - Organizational Behavior
KW  - fast
KW  - All Countries
KW  - imf
KW  - Cyber Regulation
KW  - Cyber Insurance
KW  - Asymmetric And Private Information
KW  - Electronic books
N1  - Includes bibliographical references; 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
N2  - "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
UR  - https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=1577280
ER  -