FMIs pose greatest challenge for operational resilience tests

Risk Live: Calls for large-scale industry exercises to plan what happens if major CCPs go down

Bank of England
Banks must comply with the Bank of England’s operational resilience requirements by 2025

Preparing for an operational outage at major financial market infrastructures (FMIs) poses the greatest resilience challenge to banks, and will require a combination of “regulatory and industry” initiatives to make sure large-scale disruption can be managed, according to risk managers.

“The real challenge is where we have central services, be that payment services like Visa or Mastercard, or central counterparties,” said Nitesh Patel, group operational risk director at Lloyds Banking Group, at

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