ESRB: The making of a cyber crash: a conceptual model for systemic risk in the financial sector

This ESRB occasional paper provides a conceptual model for systemic cyber risk, and, amongst other matters, aims to: demonstrate the link between the crystallisation of cyber risk in a firm-specific context, and the possible ramifications for the financial system; identify system-wide vulnerabilities and note system-wide interventions that could act as systemic mitigants.