An independent assessment of recent external peer reviews of the Central Bank’s regulatory functions is published today and available on our website and recognises the success of the Central Bank’s actions in the last several years. On the subject of cyber risk, we are seeing a material increase in the frequency, sophistication and severity of cyber-attacks on financial sector firms.
This will be an important area of focus for us over the coming period. As highlighted by Deputy Governor Cyril Roux in a speech in September, we expect financial firms to be addressing this risk clearly and effectively. In particular, cyber risk is a matter for the board and senior management, not only for the IT division.