The UK’s top financial regulators are stepping up their efforts to quiz banks and other financial institutions on avoiding IT crashes and cyber attacks, following systems meltdowns at retail bank TSB and card giant Visa in recent months.

The Bank of England and the Financial Conduct Authority said in a discussion paper on Thursday that banks, clearing houses, trading venues and fund managers must be alive to operational risks and cyber threats that could weaken financial stability, “threaten” the existence of individual firms or hurt consumers.