On 3 December 2025, HM Treasury (HMT) published a policy paper from the G7 Cyber Expert Group – chaired by the U.S. Department of the Treasury and the Bank of England – on Collective Cyber Incident Response and Recovery in the Financial Sector.

The policy paper explains that to encourage broad cooperation, the G7 Cyber Expert Group has developed a set of fundamental elements of collective cyber incident response and recovery (CCIRR).

The policy paper further sets out that G7 Fundamental Elements of CCIRR in the Financial Sector are structured in three overarching pillars, which are:

  1. Establishing the CCIRR Arrangement: This includes governance, co-ordination protocols, and interoperability with other frameworks.
  2. Utilizing the CCIRR Arrangement: This includes response and recovery tools and methods, crisis communication and resilience of the CCIRR arrangement.
  3. Maintaining and testing the CCIRR Arrangement: This includes testing and exercising the arrangement, continuous improvement, continuous threat intelligence and creating a trusted community.

Finally, the policy paper makes clear that the G7 Fundamental Elements of CCIRR in the Financial Sector are non-binding, high-level principles that may guide the establishment and refinement of CCIRR Arrangements across the  financial sector and that these fundamental elements are not regulatory expectations, rather they aim to facilitate greater convergence and compatibility among different approaches.