BoE to scrutinise banks’ op risk tolerance limits

Watchdog says banks must prove they can stick to tolerance limits; cyber stress test planned

Bank of England’s operational resilience supervision was due for an upgrade, says Nick Strange

The Bank of England will publish a consultation paper later this year, asking banks to prove their tolerance limits for operational risk are realistic and can be adhered to consistently, said its director of supervisory risk specialists today (May 14).

Speaking at Risk.net’s annual OpRisk Europe conference in London, director Nick Strange said the BoE’s operational resilience supervision was due for an upgrade and its revised approach would focus on two key planks: impact tolerance and business