Geopolitical risk and trade tensions, inflation, and cyber risk are the most significant threats to the financial services ecosystem in the coming year, according to a new survey.
The annual Systemic Risk Barometer Survey by the Depository Trust & Clearing Corporation (DTCC) found almost 70% of respondents see geopolitical risks and trade tensions as a top threat, up from 49% last year.
Nearly three years since the start of the pandemic, concerns around COVID-19 as a top threat to the industry had dropped from 52% to just 8%, the survey noted, as vaccines rose and case numbers fell.
Some 61% of respondents identified inflation as another threat. Uncertainty around how long inflationary pressures would last and its impact on monetary policy and supply chains were key reasons behind their worries.
Amid growing sophistication of cyber threat actors and increased technology adoption in the industry, cyber risk was another concern for 47% of respondents, although it had dropped from 59% in the previous year..
Michael Leibrock, chief systemic risk officer at DTCC,…
