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Journal Article
The Federal Reserve and Cybersecurity
Speech
Remarks at the University of International Business and Economics, Beijing, China
Remarks at the University of International Business and Economics, Beijing, China.
Speech
Coming together to address systemic risks: examples of collaboration: remarks at Risk USA 2017 Conference, New York City
Remarks at Risk USA 2017 Conference, New York City.
Journal Article
Cyberattacks and the Digital Dilemma
Recent high-profile hacks have renewed calls for improved security, but competing incentives pose a challenge
Speech
Transcript of fireside chat at York College in Queens, New York: March 24, 2017
Transcript of Fireside Chat at York College in Queens, New York: March 24, 2017
Bankers Name Tightening Margins, Cybersecurity as Top Challenges
Tightening margins and technology concerns top the list of challenges for community bankers, according to the 2023 CSBS Annual Survey of Community Banks.
Speech
Keynote Address at the Institute for International Bankers Annual Seminar on Risk Management and Regulatory Examination/Compliance Issues
Keynote Address at the Institute for International Bankers Annual Seminar on Risk Management and Regulatory Examination/Compliance Issues.
Working Paper
Cyberattacks and Financial Stability: Evidence from a Natural Experiment
This paper studies the effects of a unique multi-day cyberattack on a technology service provider (TSP). Using several confidential daily datasets, we identify and quantify first- and second-round effects of the event. For banks using relevant services of the TSP, the attack impaired their ability to send payments over Fedwire, even though the Federal Reserve extended the time they had to submit payments. This impairment (first-round effect) caused other banks to receive fewer payments (second-round effect), leaving them at risk of having too few reserves to send their own payments (a ...
Speech
Introductory remarks at the Community Bankers Conference, Federal Reserve Bank of New York, New York City
Remarks at the Community Bankers Conference, Federal Reserve Bank of New York, New York City.
Speech
Perspectives on Cybersecurity, the Financial System, and the Federal Reserve; 04.04.19 Ohio Bankers Day, Ohio Division of Financial Institutions, Columbus, OH
I thank the Ohio Division of Financial Institutions for inviting me to be a part of the 2019 Ohio Bankers Day. Bankers have a unique perspective from which to gather information on the health of the economy. I appreciate the insights I gain from speaking with bankers throughout the Cleveland Fed?s District, including those who serve on our Board of Directors and our Community Depository Institutions Advisory Council, and I am looking forward to hearing your questions and comments after my prepared remarks.