And related to that are the risks associated with formulating monetary policy and ensuring financial stability, as these activities will impact on their capacity to manage the balance sheet. Central banks also face a variety of other risks emerging from their operational activity, extending but not limited to those affecting: Asset management; Cash issuance; Payment systems; Information and communication systems, including cyber risks.
Materialisation of any of these risks may have a severe impact on the central bank’s financial 2/4  BIS central bankers' speeches  position and reputation. Their prevention needs to be part of the central bank’s daily activities.