IMF and Bank of Finland experts unveil a simulation-based framework for cyber stress testing to identify and mitigate systemic liquidity risks in payment infrastructures.

CLS’s Emanuel Vila and FNA’s Carlos León reveal the empirical trade-offs between increased settlement frequency and the loss of multilateral netting efficiency in the FX market.

Columbia University’s Patricia Mosser and Jason Healey analyze how cyber-attacks can trigger systemic financial crises through liquidity sinks and the rapid erosion of public confidence.