. in november, the financial stability board ( fsb ) published a cyber lexicon. having a common set of definitions in non - technical language will support the work of the fsb, standard - setting bodies, authorities and financial institutions to address cyber security and cyber resilience in the financial sector. the ecb continues to participate in these international fora, ensuring that global initiatives are aligned with our work in europe. from an operational perspective, the market infrastructure board, which is in charge of the eurosystem - operated financial infrastructures, continues to scale up its activities to ensure the continued cyber resilience of its systems and platforms. at our meeting in march6, we identified four key areas for further focus : 1 ) crisis management and incident response ; 2 ) information sharing ; 3 ) awareness and training ; and 4 ) third - party risk. there was general agreement that these key areas warranted further thought and focus. the unitas exercise further confirmed that these areas require attention. today we will reflect on how to address them collectively on the basis of proposals made in close cooperation with the experts at your institutions. thank you. 1 eurosystem cyber resilience strategy 2 cyber resilience oversight expectations 3 tiber - eu framework 4 cpmi - iosco guidance on cyber resilience for financial market infrastructures 5 tiber - eu services procurement guidelines 6 ecrb public summary march 2018 2 / 2 bis central bankers'speeches

acted responsibly, also from the point of view of its banking sector, which is not currently a cause for concern. the sector was successfully restructured. and spain is a very competitive country – the external sector is the main source of growth in the spanish economy. the form the recovery takes will depend on how the business landscape has changed. if we can avoid a situation where many companies go under as we journey through this wilderness, i ’ m sure that when normal life resumes companies will start hiring again and moving in the right direction. this will make it more of a v - shaped recovery than a u - shaped one. and what about essential industries being paralysed? that is a political decision. the government thinks that it is accelerating the flattening of the infection curve. i hope it works out. but it has an economic cost. if you were in government, would you have done the same? i can ’ t say. this crisis is unique. i think the guarantees were a good measure to take. we have to try to reduce the costs to firms and ensure that as many of them survive as possible. because 3 / 4 bis central bankers'speeches this situation will pass. it ’ s temporary. last question : if you were a minister now, would you be in favour of a total shutdown of the economy for a short period of time? i can ’ t answer that, i ’ m afraid. i ’ m not a minister now. i was a minister for more than six years, but now i ’ m at the ecb. what i can tell you is that we at the ecb will do everything possible to keep the euro together and to provide the best funding possible, under the best conditions possible, to the euro area economies, including spain. 4 / 4 bis central bankers'speeches