UK FINANCE RESPONDS TO BANK OF ENGLAND, FCA AND PRA DISCUSSION PAPER ON OPERATIONAL RESILIENCE
By FF Newsroom · 5 July 2018
In response to the Bank of England, FCA and PRA's discussion paper on operational resilience, Chief Executive of UK Finance Stephen Jones comments:
"A resilient financial system is one that can absorb shocks and disruption.
“At a time when the nature of such potential disruption becomes more complex due to growing technological change and the increased cyber threats facing all system participants, this discussion paper provides an important contribution in developing better models for individual and collaborative response to disruptive events and ensuring that we learn from shared experience to prevent shocks in the first place. We will continue to engage closely with stakeholders to develop a financial system that is more resilient for the benefit of the economy as whole.”