Basel sets out its stall on operational resilience

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

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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

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