A new survey by the Bank of England reveals that 61% of risk managers in the financial services industry "believe the probability of a high-impact event in the global financial system has increased during the past six months", citing cyber risk, geopolitical risk and the impact of new regulations as the main contributors to their fears of a high-impact event. DTCC's Michael Leibrock states that "the survey is an important tool for identifying current market concerns. I think it's also a great reminder of the ever expanding list of complex risks companies have to manage". This report comes as the DTCC Systemic Risk Barometer warns there has been a sharp increase in concern from financial firms over the growing threat of cyber-attacks, with 46% in 2H 2015 claiming it as a key concern, up 30% from 1H 2015.
A new survey by the DTCC Systemic Risk Barometer reveals that 61% of risk managers in the financial services industry "believe the probability of a high-impact event in the global financial system has increased during the past six months", citing cyber risk, geopolitical risk and the impact of new regulations as the main contributors to their fears of a high-impact event. DTCC's Michael Leibrock states that "the survey is an important tool for identifying current market concerns. I think it's also a great reminder of the ever expanding list of complex risks companies have to manage". This report comes as the Bank of England warns there has been a sharp increase in concern from financial firms over the growing threat of cyber-attacks, with 46% in 2H 2015 claiming it as a key concern, up 30% from 1H 2015.