← Standards
PRA SS1/21 & FCA PS21/3Bank of England / FCA
Operational resilience: impact tolerances for important business services
The UK regime, often cited as the most mature in the world. It requires identifying important business services, setting a quantified impact tolerance for each, mapping the resources needed, and testing the ability to stay within tolerance under severe but plausible scenarios.
Official textWho it applies to
- UK-regulated entities
- EU groups with a UK subsidiary
- Practitioners looking for a mature model
Structuring points
- An important business service is defined from the client and market viewpoint, not the org chart
- Impact tolerance is expressed as a maximum tolerable duration of disruption
- The annual self-assessment must be board-approved
- The regime clearly separates operational resilience from business continuity
UK banks, building societies, investment firms, insurers and financial market infrastructures.