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October 30, 2020

Agencies release paper on operational resilience

  • Board of Governors of the Federal Reserve System
  • Federal Deposit Insurance Corporation
  • Office of the Comptroller of the Currency

For release at 4:45 p.m. EDT

Federal bank regulatory agencies today released a paper outlining sound practices designed to help large banks increase operational resilience. Examples of risks to operational resilience include cyberattacks, natural disasters, & pandemics.

The “Sound Practices to Strengthen Operational Resilience” paper outlines practices to increase operational resilience that are drawn from existing regulations, guidance, statements, & common industry standards. The practices are grounded in effective governance & risk management techniques, consider third-party risks, & include resilient information systems. The paper does not revise the agencies’ existing rules or guidance.

The practices are for domestic banks with more than $250 billion in total consolidated assets or banks with more than $100 billion in total assets & other risk characteristics.

Last Update:

October 30, 2020