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The G7 Cyber Expert Group (CEG) concluded its 2026 Cross-Border Coordination Exercise (CBCE) on May 18, 2026, marking a milestone in strengthening cyber resilience across the G7 financial sector. The exercise tested improvements in incident response, recovery, and crisis communication, building on lessons from the 2024 simulation. Central banks, ministries of finance, and financial regulators from all G7 jurisdictions participated, simulating a coordinated response to a large-scale cyber-attack affecting multiple countries.

The Bank of Canada highlighted the exercise’s role in reinforcing collective preparedness, with Governor Tiff Macklem stating that cross-border coordination is essential to address cyber threats in an interconnected financial system. The exercise aimed to align operational and strategic responses, ensuring timely information sharing and reducing potential disruptions to the global financial system.

The G7 Cyber Expert Group, responsible for coordinating cybersecurity policy across G7 jurisdictions, emphasized the need for unified approaches to risk mitigation and a shared understanding of the evolving threat landscape. The exercise demonstrated progress in fostering collaboration among financial authorities to enhance resilience against cyber incidents.

Canada’s Minister of Finance, François-Philippe Champagne, underscored the importance of international cooperation, noting that exercises like CBCE improve the G7’s ability to respond to major cyber incidents and safeguard financial stability. The CEG plans to increase the frequency of such exercises to maintain and further strengthen collective cyber resilience.