Bank of Canada building systems back-up outside Ottawa – annual report
Cyber risk is becoming “a top priority”, Poloz says
The Bank of Canada devoted much of its resources in 2017 to overhauling technology, pursuing a medium-term plan that lists “reinventing central banking” among its aims.
One initiative focused on building the resilience of the central bank’s own systems and those of the financial sector, governor Stephen Poloz writes in the introduction. “Cyber risk is rapidly emerging as a top priority for the financial system,” he says.
The Bank of Canada has replicated its “mission-critical” systems outside
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