The Bank of England, PRA and FCA published a suite of consultation papers (CPs) under the title ‘Building operational resilience: impact tolerances for important business services' on 5 December 2019. This follows the regulators’ discussion paper which was published in 2018.
The CPs focus on how the provision of important business services can be maintained in the event of disruptions. While the overall position on operational resilience remains largely unchanged from 2018, there is a lot more content for firms to digest on the proposed meaning and application of the concepts, and proposed timelines for action.
Download this Hot Topic to see our summary of how the regulators’ thinking on operational resilience has evolved.
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