← Glossary
Operational resilienceOperational risk
Critical operation
In French : Opération critique
An activity whose failure would materially impair the viability of the institution or the stability of the financial system.
Source : BCBS 516
Related terms
Important business service
A service delivered to an external client or to the market whose disruption would cause intolerable harm. It is expressed from the user's viewpoint, never from the org chart.
Critical or important function
A function whose disruption would materially impair a financial entity's financial performance, soundness or continuity of services, or its compliance with the conditions of its authorisation.