Basel sets out its stall on operational resilience

Body says banks expected to maintain critical services, but steers clear of setting compliance metrics

The Bank for International Settlements, home to the Basel Committee

Photo: Dan Hinge

The Basel Committee on Banking Supervision has begun consulting on a guiding set of principles on operational resilience for financial firms – teeing up a period of rulemaking designed to ensure that banks can continue to maintain critical services through pandemics, large-scale system outages or natural disasters.

The principles are vague on how compliance with such expectations will be measured, however – an acknowledgment that different countries will likely take differing approaches to