This threatens innovation.”  It is thus essential that these kinds of risks are well understood and that all financial institutions and market infrastructures are secured against cyberattacks. The financial services industry should strive to have cybersecurity practices in place that are agile and responsive to emerging cyberspace activities and developments.
Despite fairly extensive discussions of the topic among central bankers, there has been no suggestion that central banks should issue e-money or be involved in the new retail electronic payments infrastructure as an active participant.