Hence, we expect the management and Board of Directors of each bank to continually assess the financial risks and focus on building up adequate capital and liquidity buffers even beyond the regulatory minimum for continued resilience and sustainable growth. 10. Let me now focus on operational resilience.
This would mean that a bank should be able to deliver critical services even in the face of disruptions. Cyber risks and possible cyber-attacks are on top of the list so far as such disruptions are concerned. 11. Cyber risk has been identified as the foremost in top ten operational risks for 2023 based on a global survey1 of financial institutions.