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Moody's Talks - Focus on Finance
Episode 1
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August 12, 2020
Pandemic amps up banks’ cyber risk, jolts money fund markets
Original publish date: August 12, 2020
Inside this episode:
- Alessandro Roccati from the banking team explains how coronavirus-driven demand for contactless digital financial services, along with remote work, are raising the cyber threat to banks. (begins at 8:21)
- Steve Tu of the asset management team looks at how the latest US government intervention in money markets could signal an eventual phaseout of institutional prime funds. (begins at 1:45)
Related content:
- Money Market Funds – US: Most recent intervention could mark a turning point for institutional prime funds - Large sponsors are now exiting the product rather than risking having to support their institutional prime funds.
- Cyber risk rises as coronavirus drives increased digital banking and remote work - Social distancing has increased digital banking and remote work by bank employees, leading to increased cyber risk. Most banks have developed cyber risk awareness and mitigation measures.
- Moody’s Banking Series - The Series digital program is free and offers exclusive interviews, thematic panel discussions and regional deep dives.
