Overview
- Bundesbank President Joachim Nagel said the bank records more than 5,000 cyberattacks per minute on its IT systems, totaling roughly 2.5 billion attempts a year at the firewall.
- The bank has deployed vetted personnel, secured IT systems, cyber defense and business‑continuity management but says absolute security cannot be guaranteed.
- Nagel said the Bundesbank has evolved into an IT service provider that supports critical Eurosystem infrastructure alongside other central banks.
- Following the recent Berlin power outage, the bank emphasized nationwide cash‑supply contingencies, with each branch covering a 75‑kilometer radius and equipped with backup generators and staffed operations.
- Nagel promoted a digital euro that could be stored in a phone wallet and used for offline payments without an internet connection to reduce reliance on cash during crises.