Cyber security now ranks as the financial industry’s top systemic risk, according to a new survey from The Depository Trust & Clearing Corporation (DTCC).

A new survey released Thursday by New York City-based DTCC finds that 84% of respondents now see cyber risk as one of their top five concerns. This represents an increase of 25 points since the last survey was conducted in March, the firm says. And, it reports that 33% rank cyber attacks as the number one systemic risk to the broader economy, up from 24% in March.

In response to this growing concern, DTCC also issued a new white paper on cyber security, which says that improved information sharing and closer collaboration between the public and private sectors are needed to combat cyber crimes. The paper says that despite progress in recent years, information sharing is not sufficiently coordinated.

“Building information partnerships among key stakeholders is critical to developing the most comprehensive and effective tools for promoting cyber security across the financial system and in our critical infrastructures,” said Michael Leibrock, chief systemic risk officer at the DTCC.

“The best way to achieve these alliances is through a truly coordinated and open approach across industries and national borders. With concerns about the potential wide-spread impact of cyber threats growing rapidly given the recent high-profile cyber attacks, our white paper provides a solid platform for greater discussion around this very real risk,” he added.

The white paper calls for the creation of global industry working groups to engage with regulators on the development of cyber security rules that address the real-time, evolving nature of cyber threats. It also calls for a shift from “check the box” security to actively hunting cyber threats.

DTCC’s survey also finds that, along with cyber risk, 64% of respondents say new regulations represent a top five concern, and 62% point to geopolitical risk. Additionally, it notes that 37% of respondents said that the probability of “a high-impact event” in the global financial system has increased during the past six months, which up 16 points since March.