On 2 July 2018, the Financial Stability Board (FSB) published a consultative document regarding a cyber lexicon which comprises a set of 50 core terms related to cyber security and cyber resilience in the financial sector.
Whilst the lexicon is not intended for use in the legal interpretation of any international arrangement or agreement or any private contract the FSB believes that it could be useful to support work in the following areas:
- cross-sector common understanding of relevant cyber security and cyber resilience terminology;
- work to assess and monitor financial stability risks of cyber risk scenarios;
- information sharing as appropriate; and
- work by the FSB and/or international standard setting bodies to provide guidance related to cyber security and cyber resilience, including identifying effective practices.
The deadline for comments on the consultative document is 20 August 2018. The FSB intends to finalise the lexicon for delivery to the G20 summit in Buenos Aires in November this year.