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ARTICLE · 20 JULY 2018

UK Regulators Consult On Improving Operational Resilience

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On July 5, 2018, the BoE, the PRA and the FCA published a joint discussion paper entitled "Building the UK financial sector's operational resilience."

United KingdomFinance and Banking
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On July 5, 2018, the BoE, the PRA and the FCA published a joint discussion paper entitled "Building the UK financial sector's operational resilience." The Discussion Paper is aimed at opening a dialogue with the financial services industry on achieving what the Authorities view as a "step change" in the operational resilience of firms and Financial Market Infrastructures and at generating debate about the expectations regulators and the wider public might have of the operational resilience of financial services institutions.

While the existing regulatory framework already supports operational resilience, the BoE, PRA and FCA are together considering the extent to which they might supplement existing policies, to improve the resilience of the financial system as a whole and increase the focus on operational resilience within firms and FMIs.

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