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BIS: Cyber Resilience Practices - Executive Summary Date   The financial sector faces significant exposure to cyber risk given that it is information technology-intensive and highly interconnected through payment systems. Therefore, it is important for financial firms to strengthen their cyber resilience, which is defined by the Financial Stability Board (FSB) as the ability of an organisation to continue to carry out its mission by anticipating and adapting to cyber threats and other relevant changes in the environment and by withstanding, containing and rapidly recovering from cyber incidents. 1 Within the financial sector, banks typically have the most public-facing products and services. Bank systems have multiple points of contact with outside parties, which can mean significant vulnerability to cyberattacks, with those interfaces being used as entry points for attacks targeting other parts of the financial system. Bank supervisory authorities have established regulat

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