The Financial Stability Board (FSB) launched a draft version of a Cyber Lexicon that is intended to support the work of the FSB and others to address financial sector cyber resilience. This consultation seeks input on a draft Cyber Lexicon which comprises a set of 50 core terms related to cyber security and cyber resilience in the financial sector.
The Cyber Lexicon is intended to support the work of the FSB, standard-setting bodies, authorities and private sector participants, e.g. financial institutions and international standards organisations. A lexicon could be useful to support work in the following areas:
- Cross-sector common understanding of relevant cyber security and cyber resilience terminology;
- Work to assess and monitor financial stability risks of cyber risk scenarios;
- Information sharing as appropriate; and
- Work by the FSB and/or standard-setting bodies to provide guidance related to cyber security and cyber resilience, including identifying effective practices.
The FSB developed the lexicon in response to a request from G20 Finance Ministers and Central Bank Governors at their October 2017 meeting.
The FSB delivered a stocktake report to that meeting on existing publicly available regulations and supervisory practices with respect to cyber security in the financial sector.
Ministers and Governors asked that the FSB continue its work to protect financial stability against the malicious use of Information and Communication Technologies, noting that this work could be supported by a common lexicon of terms that are important in the work.