The operational resilience of firms is crucial to UK financial stability. In this speech, Executive Director of Financial Market Infrastructure, Sasha Mills, outlines some key expectations for firms – ahead of the March 2025 deadline for these firms to meet the Bank of England’s policy in this area.
"Over the next year, as we approach the March 2025 deadline, we expect to see firms accelerating their efforts to ensure that they have calibrated their tolerance for negative impacts on their important business services, and mapped the key people, processes, technology, facilities, and information needed to deliver these services. Firms should then be fully testing their ability to remain within impact tolerances for ‘extreme but plausible’ scenarios – ensuring that response plans and capabilities are robust, and where not, that strategic investment is being made. This is a key requirement."
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