Riksbank's Ingves Says Cyber Risk 'Lurking Around the Corner'

The transcript covers the implementation of Basel III, highlighting the challenges and timeline from 2022 to 2027. It discusses evolving financial risks, including cyber risks and cryptocurrencies, emphasizing the need for supervision. The role of leverage in financial crises is examined, with a focus on identifying dangerous levels of leverage. The discussion on cryptocurrencies warns of their risks and lack of regulation. The impact of global currency dynamics on small economies is explored, and the challenges of implementing Basel III globally are addressed.

What is the agreed timeline for the implementation of Basel III?

• 2023 to 2028

• 2021 to 2026

• 2022 to 2027

• 2020 to 2025

What new risk is highlighted as emerging in the financial sector?

• Interest rate risk

• Inflation risk

• Liquidity risk

• Cyber risk

According to the discussion, what should be monitored to predict potential financial crises?

• Stock market trends

• Leverage

• Currency exchange rates

• Interest rates

How are cryptocurrencies compared to traditional currencies in the discussion?

• They are widely accepted for payments

• They are like trading stamps or metals

• They are similar in regulation

• They are more stable

What potential risks are associated with cryptocurrencies?

• Government control

• High transaction fees

• Money laundering and terrorism financing

• Deflation

What analogy is used to describe the perspective of a small country in the global financial landscape?

• A plane in the sky

• A train on tracks

• A large ship on calm waters

• A small ship on the ocean

What is the main challenge in implementing global financial agreements like Basel III?

• High costs involved

• Time required for implementation

• Differences in financial systems

• Lack of interest from countries