The Basel Committee's report indicates that jurisdictions with observable practices for information-sharing among banks tend to have less robust regulatory information sharing frameworks. This is because the regulators in these jurisdictions may not feel the need to enforce stringent information-sharing policies if voluntary peer sharing practices are well established and effective. Therefore, these jurisdictions may rely more on the voluntary information-sharing practices among banks rather than on robust regulatory frameworks.

Choice A is incorrect. While it might seem intuitive that jurisdictions with minimum freewill information sharing arrangements would have the least robust regulatory information sharing frameworks, this is not necessarily the case. The term "freewill" implies that these jurisdictions allow banks to decide whether or not to share information, which could potentially lead to more robust frameworks if banks choose to share extensively. Therefore, this choice does not definitively indicate a lack of robustness in regulatory information sharing frameworks.

Choice C is incorrect. The number of cyber-related incidents recorded in a jurisdiction does not directly correlate with the robustness of its regulatory information sharing framework. A low number of incidents could be due to effective cybersecurity measures rather than a strong framework for sharing regulatory information.

Choice D is incorrect. The presence of systemically important banks within a jurisdiction does not necessarily imply weak or strong regulatory information-sharing frameworks. These banks may have advanced internal systems for managing cyber risk but it doesn't provide any direct indication about the quality or effectiveness of their external communication and cooperation with regulators and other institutions.

Things to Remember

• Cyber resiliency is the ability of an organization to prepare for, respond to, and recover from cyber attacks or incidents.
• Regulatory information sharing frameworks are essential for promoting collaboration and coordination among financial institutions and regulators to address cyber threats.
• Systemically important banks are institutions whose failure could potentially have a significant impact on the stability of the financial system.
• Effective cyber resiliency requires not only robust regulatory frameworks but also active information sharing and cooperation among institutions and regulators.
• Voluntary information sharing practices among banks can complement regulatory