The Financial Stability Board (FSB) has published the final Format for Incident Reporting Exchange (FIRE), a standardised yet adaptable format intended to improve the efficiency and consistency of cyber and operational incident reporting across jurisdictions. The initiative is positioned as a way to reduce fragmentation in reporting requirements and ease the burden on firms operating internationally, while improving information-sharing and coordination among authorities. FIRE was developed with private sector experts and is designed to cover a wide range of operational and cyber incidents, with potential applicability extending to third-party service providers and firms beyond the financial sector. It supports phased implementation and is intended to be interoperable with existing reporting systems, including by providing a foundation for jurisdictions without standardised frameworks. The finalised framework incorporates feedback on the consultative version issued in October 2024 and the results of an FSB robustness test using sanitised industry data, and builds on the FSB’s 2023 recommendations to achieve greater convergence in cyber incident reporting.
Financial Stability Board 2025-04-15
Financial Stability Board finalises the Format for Incident Reporting Exchange to streamline cyber and operational incident reporting
The Financial Stability Board (FSB) has released the final Format for Incident Reporting Exchange (FIRE), a standardized format to enhance cyber and operational incident reporting across jurisdictions. Developed with private sector input, FIRE aims to reduce reporting fragmentation and facilitate information-sharing among authorities, applicable to third-party providers and firms beyond the financial sector. The framework, incorporating feedback and robustness testing, supports phased implementation and interoperability with existing systems.