Cyber Incident Could Trigger EU Liquidity Crisis

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Central banks will need to “reflect on the difficulties to their common instruments and emergency plans”

Europe’s systemic danger watchdog has warned that a one cyber incident could escalate from operational disruption into a major liquidity disaster throughout Europe.

The European Systemic Hazard Board (ESRB) oversees banks, insurers, asset administrators, financial market place infrastructures and other financial establishments.

A cyber incident could “create disruption on these a scale that it has the probable to have really serious destructive effects for the inside market place and the real overall economy,” the ESRB warned, in a report that gamed

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