Cyber resilience continues to be a top priority for the financial services industry and a key area of attention for financial authorities. This is not surprising given that cyber incidents pose a significant threat to the stability of the financial system and the global economy. The financial system performs a number of key activities that support the real economy (eg deposit taking, lending, payments and settlement services). Cyber incidents can disrupt the information and communication technologies that support these activities and can lead to the misuse and abuse of data that such technologies process or store. This is complicated by the fact that the cyber threat landscape keeps evolving and becoming more complex amid continuous digitalisation, increased third-party dependencies and geopolitical tensions. Moreover, the cost of cyber incidents has continuously and significantly increased over the years.