As part of its ongoing work to protect financial stability from the malicious use of information and communication technologies (ICT) and to facilitate cross-border cooperation in this field, the Financial Stability Board (FSB) has developed and published a Cyber Lexicon for use by international standard setters, national authorities and private sector participants in financial markets. The lexicon is intended to help develop a common understanding of cyber security and cyber resilience terminology, support assessments and monitoring of cyber risk scenarios, facilitate information-sharing (e.g. across jurisdictions and between authorities and market participants), and support work by the FSB and others to provide guidance on cyber-related matters.

We think the Cyber Lexicon could be useful to firms who are drafting policies, procedures or agreements that address cyber risks or who are seeking to understand regulators’ expectations regarding cyber risks and mitigation strategies.