The National Bank of Denmark published the outcome of a joint operational resilience stress test conducted with the Danish Financial Supervisory Authority and 11 key private-sector participants, using a new model in which firms and authorities jointly designed the disruption scenario. The exercise combined a tabletop phase with a real-time crisis simulation and produced concrete follow-up actions aimed at improving the financial sector’s collective response to major cyber and ICT incidents. The test focused on an extreme but plausible data integrity breach in the securities market, where data manipulation created uncertainty over securities ownership and forced a temporary halt to both settlement and further trading until extensive clean-up work was completed. The authorities said the exercise showed that the sector’s interconnectedness means major disruptions cannot be managed by individual firms alone. In response, participants launched three joint initiatives: a shared playbook for disruptions in the securities area, a working group to strengthen external crisis communication, and broader joint preparation across a range of disruption scenarios.
National Bank of Denmark2026-07-03
National Bank of Denmark and Danish Financial Supervisory Authority launch three sector preparedness initiatives after joint cyber resilience stress test
The National Bank of Denmark reported that a joint stress test with the Danish Financial Supervisory Authority and key market participants has led to three new sector-wide preparedness initiatives. The exercise tested an extreme but plausible securities data manipulation scenario and highlighted the need for coordinated recovery, communication and contingency planning across the financial sector.