BoE to set tolerance levels for operational disruptions

Regulator cites recent TSB and RBS outages as it plans incident response framework

Bank of England
BoE's Nelson: "[We] will be incredibly clear about what we would regard as acceptable and within tolerance"

The Bank of England is planning to set tolerance levels for banks to maintain a minimum level of service provision during a “severe but plausible operational disruption”, according to a senior executive at the regulator.

Speaking today (June 13) at OpRisk Europe, Lyndon Nelson, deputy chief executive officer and executive director for regulatory operations and supervisory risk specialists at the BoE’s Prudential Regulation Authority, said banks’ increased reliance on technology had led to an

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: