But, during the crisis, it was not only inadequate capital buffers that posed a problem. Many banks also had inadequate liquidity buffers. In fact, it was liquidity, or rather the lack of it, that dominated the first round of the crisis. And now, five years later, we have, for the first time ever, decided on an international standard on liquidity.
FSOR has three primary goals: (1) To create an overview of cyber threats to financial stability, (2) to implement joint measures to ensure financial sector resilience and (3) to set up a framework for collaboration and knowledge-sharing.