UK Finance has responded to the joint Discussion Paper on Building the UK financial sector’s operational resilience.

Our response supported the general approach laid out and agree with the intent behind the concept of prioritised business services as a way of aligning an integrated approach to operational resilience.

There should not be a one-size-fits-all approach given the disparate business models, size and, in many cases, global nature of our members.

We look forward to engaging further with our member and regulators on this important topic, particularly around refining the definition of ‘impact tolerance’, the stress testing framework, and the gap analysis of regulatory expectations and what the industry does today.

UK Finance response to the Joint Discussion Paper: Building the UK financial sector’s operational resilience