Benoît Cœuré: Cyber resilience for pan-European financial market infrastructures Introductory remarks by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the High-Level Meeting on Cyber Resilience, Frankfurt am Main, 19 June 2017. * * *  Introduction It is a pleasure to welcome you here today to this strategic high-level meeting on cyber resilience for pan-European financial market infrastructures. The aim of bringing together high-level representatives from large European market infrastructures, critical service providers and public authorities is threefold: First we would like to gain a deeper understanding of the cyber threat landscape in Europe. The European Union Agency for Network and Information Security (ENISA) will make a presentation on the cyber threat landscape and its relevance for the financial sector. Second, we will share with you the Eurosystem’s cyber strategy for financial market infrastructures and also explain ECB Banking Supervision’s approach to the issue of bank cyber resilience. Third, we would like to hear your views on how we can all collaborate in a trusted environment to enhance the cyber resilience of financial market infrastructures. More specifically, we would like to assess with you how much interest there is in creating a highlevel cyber resilience forum for pan-European financial market infrastructures, critical service providers and competent authorities. Before we start, let me briefly set the scene.
This strategy – which will be explained in more detail at agenda item 3 – is built on three pillars. The first pillar refers to the cyber resilience of individual financial market infrastructures. The second pillar refers to the resilience of the financial sector as a whole. The third pillar highlights the importance of establishing a forum which brings together market actors, competent authorities and the cybersecurity service providers. This brings me to the third and final objective of today’s meeting. Creation of a high-level cyber resilience forum Tackling cyber risk is not for regulators or market actors in isolation. Rather it is a collaborative endeavour that must be undertaken together. Hence, I invite you to seriously consider the creation of a high-level cyber resilience forum for pan-European financial market infrastructures, critical service providers and competent authorities. I am convinced that there is cross-fertilisation and collective learning to be gained from such collaboration and I am looking forward to a fruitful meeting today. 2/2  BIS central bankers' speeches