Basel Committee drafts new resilience guidelines
BCBS consults banks on safeguards against operational risks such as pandemics and cyber attacks
The Basel Committee on Banking Supervision has asked for comments on its draft new guidance on strengthening banks’ operational resilience.
The BCBS says the Covid-19 outbreak has highlighted how important it is for banks to be prepared for major operational challenges. It says its new draft principles for operational resilience should help banks guard against “potentially severe adverse events”, including pandemics, cyber attacks, technology failures and natural disasters.
The draft
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