Mobilizing funding of this order is a challenge at all times, particularly so in our context where long term financing markets are not yet sufficiently deep, developed and open. So, the burden of financing infrastructure is falling largely on the banking system. The Reserve Bank has already relaxed regulatory norms to facilitate larger infrastructure financing by banks.
This would allow cybersecurity service providers to raise standards around threat intelligence and red team testing and to have their capabilities in this field validated. I am pleased to say that, since its publication, TIBER-EU has been implemented – or is currently being implemented – in Belgium, Denmark, Germany, Ireland, the Netherlands, Romania and Sweden, and by the ECB in its oversight capacity.