Fed research examines single cyber attack’s effects on stability
Federal funds market and discount window kept banks liquid despite attack – researchers
A new research paper published by the Federal Reserve Board examines how the federal funds market and the Fed’s discount window supported financial stability during a cyber attack.
Researchers Antonis Kotidis and Stacey Schreft, who wrote the paper, say it is “the first paper to explore the financial stability implications of an actual cyber attack on the banking system”.
They found that the first day of the cyber attack saw a 50% decrease in the value of payments from the affected banks to
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