GRU Podcast: Perspectives from the IMF on Operational Resilience of the Global Financial System

Emran Islam and Chris Wilson, Senior Financial Sector Experts within the International Monetary Fund’s (IMF) Monetary and Capital Markets Department, join Katie Rismanchi of the Institute of International Finance (IIF) to share their perspectives on the operational resilience of the global financial system, including financial institutions, non-financial third parties and central bank financial market infrastructures. During the episode, they discuss the IMF’s work program on operational resilience and cyber risk, and their perspectives on structural vulnerabilities that could affect financial stability in advanced and emerging economies. Emran and Chris emphasize the importance of “The Three C’s” on this topic: Convergence, Collaboration and Communication.

Please note, this podcast was recorded before the Basel Committee on Banking Supervision (BCBS) released their final Principles on Operational Resilience on March 31, 2021; reference is made to the consultation draft BCBS principles during the episode.