Principles for operational resilience

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BCBS  | 
Consultative
 | 
06 August 2020
 | 
Status:  Open [Upload comments]
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Through the publication of this consultative document, the Committee seeks to promote a principles-based approach to improving operational resilience. The principles aim to strengthen the ability of banks to withstand operational risk-related events which could cause significant operational failures or wide-scale disruptions in financial markets, such as pandemics, cyber incidents, technology failures or natural disasters. The approach builds on updates to the Committee's Principles for the sound management of operational risk, and draws from previously issued principles on corporate governance for banks, as well as outsourcing-, business continuity- and relevant risk management-related guidance.

Comments on any element of this paper should be submitted here by Friday, 6 November 2020. All comments may be published on the BIS website unless a respondent specifically requests confidential treatment.