John Hicks argued that the dynamics of money and the history of monetary economics are closely related to each other. He said monetary theory "belongs to monetary history" in a sense, because "a large part of the best work on Money is topical" and "throughout the whole time -- back before Ricardo, forward after Keynes -- money itself has been evolving" (Hicks 1967a, pp.
It is within this context that the Committee on Payments and Market Infrastructures (CPMI) and the Board of the International Organization of Securities Commissions (IOSCO) joined their efforts in developing the Guidance on cyber resilience for financial market infrastructures which you will discuss today.