Following the publication of the joint discussion paper ?Building the UK financial sector's operational resilience? in July 2018 by the Bank of England, Prudential Regulatory Authority and FCA, UK Finance, in partnership with EY, held a number of operational resilience workshops with members representing a range of retail, commercial, custody and wholesale financial institutions.

These workshops brought together representatives from across UK Finance's membership to discuss a range of areas. We explore many of these within this paper, not with the aim of prescribing a specific approach or gold standard, but to offer perspectives that may help inform your firm as you grapple with many of these concepts. These perspectives may be useful to individual firms as they look to enhance their own resilience as well as contribute to the greater resilience of the sector.

The perspectives set out in this white paper are a synthesis of UK Finance workshops with EY's discussions with more than 70 firms on their resilience concerns, current activities and planned enhancements. UK Finance and EY hope that the thoughts shared within this paper help equip firms to evolve their approach to resilience in a proportionate manner.

If you would like to discuss this report or our work on operational resilience within financial services more generally, please contact your usual UK Finance contact or Andrew Rogan, Director, Capital Markets & Wholesale Policy.