Basel set to update op risk and resilience principles
Op risk working group to issue core ‘indicators of resilience’ proposal as update to 2011 principles
The Basel Committee on Banking Supervision is working to develop a set of metrics for operational resilience that will serve as gauge for how companies can maintain effective service levels following an IT disruption or other form of outage, a senior policymaker at the body has said.
The work is being conducted in concert with a long-expected update to the Basel Committee’s Principles for the sound management of operational risk (PSMOR) report, which was published in its current form in 2011
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