Repo market exposed to $100 billion-plus cyber tail risk, OFR warns
Concentration and time-of-day vulnerabilities amplify impact of extreme outcomes
The US repo market faces material exposure to cyber-related outages, with the most severe scenarios posing outsized risks due to market concentration, according to a report published on February 10 by the Office of Financial Research (OFR).
An analysis of 137 cash lenders showed that a one-day outage at a single lender would have little effect at the median. But the distribution of outcomes is
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