FSB promotes convergence on operational incident reporting

As global body proposes common reporting format, official says there may be an optimum time window

Bank for International Settlements, Basel
Bank for International Settlements, in Basel, home to the FSB
Photo: BIS

Although the Financial Stability Board will not prescribe cyber disclosure thresholds, a senior official hopes its new standardised format for reporting operational failures could lead regulators to coalesce around standard timeframes and data items for financial institutions to provide such information.

The FSB today issued a consultation on developing a common format of information elements for financial entities to incorporate into their reports of operational incidents, including information

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