Tuesday , March 2 2021

The central bank calls for reviewing regulatory framework in cybersecurity and warns against external and national risks



In its Financial Stability Report, Central Bank He pointed to the review of the regulatory framework and the supervision of cyber security.

The issuing entity noted that among the threats to financial stability in the Czech Republic, "Continuing to highlight these is related to the sudden adjustment of external financing conditions".

This financial stability report corresponds to the second semester of 2018, where the central bank stressed that the threats to financial stability continue to be those associated with the sudden adjustment of external financing conditions, smaller capital gaps of domestic banks and the growth of nonbank credit without consolidated information on indebtedness.

Although the financial system and internal and external payment systems have not recorded significant disruption events, there are several developments to be monitored, such as cybersecurity.

This was stated by the President of the Central Bank, Mario Marcel.

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In the meantime, the report has a special chapter on fiduciary security, which poses future challenges for regulators, with the aim of improving the regulatory and regulatory framework in this area. In addition, he calls on financial institutions in the private sector to review permanently if the cybersecurity risks to which they are exposed are well managed.

All in the context of the implementation of the new General Banking Law, as stated by the Director of the Financial Policy Division of the Central Bank, Solang Berstein.

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In this regard, the government has an agenda in this area: the Computer Crimes Law, a notice of presidential government document for the state, plus project personal data.

During the analysis, the Minister of Economy, Jose Ramon and ValenteHe noted that the state is correct in front of the subject of cybersecurity.

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With regard to the evolution of household indebtedness, The Central Bank reported an increase in the percentage of households with savings and a reduction in the percentage of debtors And a significant increase in the level of indebtedness and financial burden of households with debt.


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