SS1/21 Operational resilience: Impact tolerances for important ...

SS1/21 Operational resilience: Impact tolerances for important business services ... This Supervisory Statement (SS) sets out the Prudential ... Ouruseofcookies Weusenecessarycookiestomakeoursitework(forexample,tomanageyoursession).We’dalsoliketousesomenon-essentialcookies(includingthird-partycookies)tohelpusimprovethesite.Byclicking‘Acceptrecommendedsettings’onthisbanner,youacceptouruseofoptionalcookies. Necessarycookies Analyticscookies   Yes Yes Acceptrecommendedcookies Yes No Proceedwithnecessarycookiesonly Necessarycookies Necessarycookiesenablecorefunctionalityonourwebsitesuchassecurity,networkmanagement,andaccessibility.Youmaydisablethesebychangingyourbrowsersettings,butthismayaffecthowthewebsitefunctions. Analyticscookies Weuseanalyticscookiessowecankeeptrackofthenumberofvisitorstovariouspartsofthesiteandunderstandhowourwebsiteisused.FormoreinformationonhowthesecookiesworkpleaseseeourCookiepolicy. Skiptomaincontent Home Prudentialregulation SS1/21Operationalresilience:Impacttolerancesforimportantbusinessservices SS1/21Operationalresilience:Impacttolerancesforimportantbusinessservices SupervisoryStatement1/21 Firstpublishedon29March2021 ThisSupervisoryStatement(SS)setsoutthePrudentialRegulationAuthority’s(PRA)expectationsfortheoperationalresilienceoffirms’importantbusinessservices,forwhichtheyarerequiredtosetimpacttolerances.Thepolicyobjectiveistoimprovetheresilienceofbothfirmsandthewiderfinancialsectortooperationaldisruptions.  Thepolicyaddressesriskstooperationalresiliencefromtheinterconnectednessofthefinancialsystemandthecomplexanddynamicenvironmentinwhichfirmsoperate.ThePRAconsidersthatthereisaneedforaproportionateminimumstandardofoperationalresiliencethatincentivisesfirmstopreparefordisruptionsandtoinvestwhereitisneeded.Disruptionscanaffectfirms’safetyandsoundness,underminepolicyholderprotectionand,whereappropriate,affectfinancialstability.  ThisSSisrelevanttoall: UKbanks,buildingsocieties,andPRA-designatedinvestmentfirms;and UKSolvencyIIfirms,theSocietyofLloyd’s,anditsmanagingagents. Currentversion Published11March2022.Effectivefrom31March2022. SupervisoryStatement1/21–March2022(pdf) -FollowingPS2/22OperationalResilienceandOperationalContinuityinResolution:CRRfirms,SolvencyIIfirms,andFinancialHoldingCompanies(forOperationalResilience) Pastupdates Listofpastversions Published29March2021.Effectivefrom31March2022(supersededon31March2022byMarch2022version). SupervisoryStatement1/21–March2021(pdf) -FollowingPS6/21‘Operationalresilience:Impacttolerancesforimportantbusinessservices’ ConvertthispagetoPDF Otherprudentialregulationreleases PrudentialRegulation//PRARegulatoryDigest 01April2022 PRARegulatoryDigest-March2022 PRARegulatoryDigest-March2022 PrudentialRegulation//Discussionpaper 31March2022 DP1/22–Theprudentialliquidityframework:... DP1/22–Theprudentialliquidityframework:Supportingliquidassetusability PrudentialRegulation//Policystatement 25March2022 PS3/22|CP1/22-FinancialServicesCompensation... PS3/22|CP1/22-FinancialServicesCompensationScheme–ManagementExpensesLevyLimit2022/23 PrudentialRegulation//Letter 24March2022 LetterfromSamWoods‘Existingorplanned... LetterfromSamWoods‘Existingorplannedexposuretocryptoassets’ ViewmoreOtherprudentialregulationreleases Backtotop Giveyourfeedback Wasthispageuseful? Yes,itwasuseful Yes No,itwasn'tuseful No PageUrlIsMobileBrowserIPAddressOperatingSystem Thanks! Wouldyouliketogivemoredetail? PressSpacebarorEntertoselect Whatdidyouthinkofthispage? Addyourdetails...PageUrlIsMobileBrowserOperatingSystem Pleaseprovethatyou'renotarobot: