Press Center

 Joint Statement from the U.S. Department of The Treasury and Her Majesty’s Treasury


11/12/2015

WASHINGTON - Today the governments of the United States and United Kingdom conducted a joint table-top exercise with leading global financial firms to enhance our cooperation and ability to respond effectively to a cyber incident in the finance sector.
 
"In our increasingly interconnected world, cyber criminals do not respect national borders and they target government, private industry and individual citizens alike," said Treasury Secretary Jacob J. Lew. "Confronting the cyber threat is a team effort that requires coordination at all levels. Today's exercise with our U.K. partners is an important step to ensure that we are doing all we can to share threat information, adopt best practices and support our collective resiliency."
 
“Our national security is a priority for this government and that includes defending our cyber space," said Chancellor of the Exchequer George Osborne. “We train and prepare for the threat of a financial cyber-incident. That is why this exercise is so important, and we will continue to work with our partners in the US to enhance our cyber cooperation.”
 
Announced earlier this year by President Obama and Prime Minister Cameron, this exercise is part of enhanced transatlantic engagement on cybersecurity. It reflects the importance of international cooperation in cyberspace, especially given the interconnectedness of the global financial system. 
 
The exercise was developed by U.S. and U.K. government representatives and industry and designed to improve common understanding across our governments and industry in three main areas: 1) incident response and recovery; 2) information sharing; and 3) public communications. The exercise was not a test of individual financial firms or of financial systems.
 
This exercise is another step in the ongoing work between the U.S. and U.K. to enhance our cyber programs and the resilience of our financial sectors. 
 
U.S. participants included:
  • ​White House National Security Council
  • U.S. Department of the Treasury
  • U.S. Department of Homeland Security
  • U.S. Federal Bureau of Investigation
  • U.S. Secret Service
  • U.S. Board of Governors of the Federal Reserve System
  • U.S. Federal Reserve Bank of New York
  • U.S. Federal Reserve Bank of Chicago
  • U.S. Intelligence Community
  • Office of the Comptroller of the Currency
  • Federal Deposit Insurance Corporation
  • U.S. Securities and Exchange Commission
  • U.S. Commodity Futures Trading Commission
  • National Credit Union Administration
  • Financial institutions and industry groups in the U.S.

U.K. participants included:
  • ​Office of Cyber Security & Information Assurance
  • Her Majesty’s Treasury
  • Computer Emergency Response Team - U.K.
  • National Crime Agency
  • UK Intelligence Community
  • Bank of England
  • Financial Conduct Authority
  • Financial institutions and industry groups in the U.K.
 
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