Rannveig Sigurdardóttir: Security, privacy and the need for cooperation to fight cyber threats

Introductory remarks by Ms Rannveig Sigurdardóttir, Deputy Governor of the Central Bank of Iceland, at the 2nd Annual Conference of the Nordic central banks "Cyber in Finance", hosted by the Bank of Finland, Helsinki, 29 November 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Let me begin by saying that this conference is both timely and interesting for me, as I have only been in office for five months. Given that I come from the monetary policy department at the Central Bank of Iceland, cybersecurity has not been much on my agenda until now. It is, nonetheless, a very important topic. The Central Bank of Iceland, and other central banks are facing several new challenges in this area, both in the financial sector generally and central banking more specifically.

Last week I attended an interesting macroprudential policy conference at Danmarks Nationalbank. The discussion paper prepared for that conference was called While the sun is shining, prepare for a rainy day. Sitting there, I pondered what the discussion paper for this conference today might be called. Perhaps something like The snowstorm is here - what do we wear?