Payment Systems Broadcast #23 - Project Meridian FX: Cyber Resilience: Insights from Stress Testing

Cybersecurity threats pose one of the greatest risks to global financial stability, making robust preparation essential for central banks, regulators, and financial institutions. In this session of the Payment Systems Broadcast, guests from the IMF and Bank of Finland explore how computer-based simulations can strengthen cyber stress testing exercises. Drawing on their recent IMF working paper, ‘Using Simulations for Cyber Stress Testing Exercises, Tanai Khiaonarong, Kasperi Korpinen, and Emran Islam join us to discuss why simulations are especially effective for assessing cyber resilience. The conversation will cover their proposed framework, illustrative scenarios, and key implications for safeguarding payments and financial infrastructures against cyber incidents.