1/5  BIS central bankers' speeches  Overall, we heard about an economy that is maintaining momentum, but demanding more policy certainty and business confidence, so that firms will invest for the long-term. These are quality business challenges. We also spend a lot of effort assessing global economic developments. And this is where we are most challenged, but not alone.
In particular, it is vital to assess critical service dependencies on third-party products and services which could be disrupted or even terminated as a result of a cyberattack. Mitigating measures need to be put in place. Against this background, the G7 recently updated its Fundamental Elements for Third-Party Cyber Risk Management in the Financial Sector[6].