Rising Cyber Threats Pose Serious Concerns for Financial Stability

April 9, 2024--Greater digitalization and heightened geopolitical tensions imply that the risk of a cyberattack with systemic consequences has risen
Cyberattacks have more than doubled since the pandemic. While companies have historically suffered relatively modest direct losses from cyberattacks, some have experienced a much heavier toll.

US credit reporting agency Equifax, for example, paid more than $1 billion in penalties after a major data breach in 2017 that affected about 150 million consumers.

As we show in a chapter of the April 2024

Global Financial Stability Report, the risk of extreme losses from cyber incidents is increasing. Such losses could potentially cause funding problems for companies and even jeopardize their solvency. The size of these extreme losses has more than quadrupled since 2017 to $2.5 billion. And indirect losses like reputational damage or security upgrades are substantially higher.

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New WFE Research quantifies the impact of stock exchanges on economic growth

January 6, 2025--The World Federation of Exchanges, the global industry association for exchanges and CCPs (The WFE), has published new research which analyses the link between stock market development and economic growth on a global scale.
The research analysed quarterly data from 36 countries over two decades (2003-2022).

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5 transformational trends shaping global finance

January 6, 2025--The global economy has undergone seismic changes since the pandemic.
Major structural shifts are underway, shaped by five fundamental forces:
Deglobalization, decarbonization, debt, digitalization, and demographics.
The global economy is very different now compared with even just a few years ago.

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