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Third-party Service Provider Risks in the Economy and Financial System

October 16, 2025

Houston

Hosted by the Federal Reserve Banks of Boston, Chicago and Dallas

This workshop brings together researchers, regulators and practitioners to explore how vulnerabilities related to third-party service providers can best be identified, monitored and mitigated.

Academics, regulatory officials and industry representatives from transportation, energy, finance, health care or other sectors are encouraged to participate.

Overview

Financial and nonfinancial companies increasingly rely on third parties to provide critical services for their businesses. These services can include software, data, recordkeeping, computing infrastructure, generative artificial intelligence systems, and energy and telecommunications utilities, among others.

Due to economies of scale or network externalities, provision of any given service is often highly concentrated among a very small number of providers. As a result, problems at one provider could pose systemic vulnerabilities to the economy, major economic sectors or the financial system.

An individual provider’s services may also enable interactions among a number of companies receiving the services. This interconnectedness could increase the risk of spillovers.

The workshop will focus on how these vulnerabilities can best be addressed. Sessions will include presentations of research and a panel discussion.

When
  • Thursday, Oct. 16, 2025
Where
Agenda
Oct. 16, 2025
8:00 a.m. Registration and breakfast
8:30 a.m. Welcome and opening remarks
9:00 a.m. Panel session 1: Financial sector perspectives
10:15 a.m. Break
10:45 a.m.

Paper session 1: Examplesof third-party and cyber risks
What do third-party and cyber risk in the financial system and economy look like? How systemic are these risks?
11:45 a.m. Lunch
12:45 p.m.

Paper session 2: Measuring and monitoring
How do we measure and monitor third-party risk? How can we understand exposure? What is happening in other jurisdictions?
2:15 p.m. Break
2:45 p.m.Panel session 2: Nonfinancial industries perspectives
4:00 p.m. Closing remarks
Submissions are closed

Selected authors will be notified by Sept. 2.

For more information

Contact the workshop committee.