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As an effective way to enhance the physical layer security (PLS) for thebroadcast channel (BC), regularized zero-forcing (RZF) precoding has attractedmuch attention. However, the reliability performance, i.e., secrecy outageprobability (SOP), of RZF is not well investigated in the literature. In thispaper, we characterize the secrecy performance of RZF precoding in the largemultiple-input single-output (MISO) broadcast system. For this purpose, wefirst consider a central limit theorem (CLT) for the joint distribution of theusers' signal-to-interference-plus-noise ratio (SINR) and the eavesdropper's(Eve's) signal-to-noise ratio (ESNR) by leveraging random matrix theory (RMT).The result is then utilized to obtain a closed-form approximation for theergodic secrecy rate (ESR) and SOP of three typical scenarios: the case withonly external Eves, the case with only internal Eves, and that with both. Thederived results are then used to evaluate the percentage of users in secrecyoutage and the required number of transmit antennas to achieve a positivesecrecy rate. It is shown that, with equally-capable Eves, the secrecy losscaused by external Eves is higher than that caused by internal Eves. Numericalsimulations validate the accuracy of the theoretical results.

Secrecy Analysis for MISO Broadcast Systems with Regularized Zero-Forcing Precoding