OREANDA-NEWS. November 16, 2015. Today the UK and US governments conducted a joint table-top exercise with leading global financial firms to enhance our cooperation and ability to respond effectively to a cyber-incident in the finance sector.

Announced earlier this year by Prime Minister Cameron and President Obama, this exercise is part of enhanced transatlantic engagement on cybersecurity. It reflects the importance of international co-operation in cyber space, especially given the interconnectedness of the global financial system. 

Governor of the Bank of England, Mark Carney:

"It is vital that the financial sector continues to develop its resilience in the face of ever-evolving cyber threats. The Bank has a particular interest in this given its role along with HM Treasury and the Financial Conduct Authority to ensure that firms can continue to provide critical services that are important for the functioning of the financial sector, and the Financial Policy Committee's remit to monitor and address non-financial as well as financial risks to the system.

"Regular exercises such as this play an important role in helping the financial sector and the authorities plan a coordinated response to a cyber event, and the Bank of England has been pleased to provide the technical expertise to facilitate this exercise."