trending Market Intelligence /marketintelligence/en/news-insights/trending/sJZBb75IpSDWL75rYbqKHw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Even small banks could affect entire system in face of cyberattack, report shows

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good


Even small banks could affect entire system in face of cyberattack, report shows

Cyberattacks on the five most active U.S. banks and even the ones with less than $10 billion in assets have the ability to significantly impact the liquidity of other banks in the system, according to a report by the Federal Reserve Bank of New York.

The report, titled "Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis," focused on how the U.S. financial system's wholesale payments network would be affected in case of a cyberattack.

The New York Fed said that such an attack on any of the five most active U.S. banks could have an average spillover impact to about 38% of the network. Conversely, a cyberattack on six banks with less than $10 billion in assets or one institution with $10 billion to $50 billion in assets could also impair one of the top five institutions.

The potential impact in forgone payment activity could reach more than 2.5 times daily GDP, should banks respond to uncertainty by hoarding cash.

The report also noted that the reconciliation and recuperation process for a cyberattack that compromised the integrity of banks' systems would be an "unprecedented task," as impacts would also affect investors, creditors and other financial market participants.

The New York Fed hopes to study how borrowers and other counterparties would respond in future reports.