Focus on Finance

Banks, Insurance and Asset Management
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Moody's Talks - Focus on Finance

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:

  1. 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.
  2. 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.
  3. Moody’s Banking Series - ​​The Series digital program is free and offers exclusive interviews, thematic panel discussions and regional deep dives.​