01975cas a2200253 a 4500 AALejournalIMF018510 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484360750 1018-5941 BD-DhAAL BD-DhAAL Bouveret, Antoine. Cyber Risk for the Financial Sector : A Framework for Quantitative Assessment / Antoine Bouveret. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income. Mode of access: Internet United States imf IMF Working Papers; Working Paper ; No. 2018/143 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/143/001.2018.issue-143-en.xml IMF e-Library