As tensions between Russia and Ukraine escalate, U.S. banks are being put on notice.
The meetings followed previous outreach from officials to these financial institutions.
"We don't have the level of cyber resilience that we wish. Since the beginning of the administration, President Biden has made both domestic and physical resilience a priority," said Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technology, during a press briefing. "But on the other hand, one should always prepare for any contingencies.
The threat of a debilitating attack against a U.S. financial institution is not new. Last December Federal Reserve Chairman Jerome Powell was asked during his press briefing what risks he is concerned about. "I would say, you know, cyber risk, the risk of a successful cyberattack, is, for me, you know, always the most — you know, one that would be very difficult to deal with. I think we know how to deal with bad loans and things like that. I think more — a cyberattack that were to take down a major financial institution or financial market utility would be a really significant financial stability risk that we haven’t actually faced yet.
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