BoE supervisory statement on operational resilience for payment systems
The Bank of England issued a supervisory statement on operational resilience for recognised payment system operators (RPSOs) and specified service providers (SSPs).
The BoE has formalised expectations on operational resilience for systemic payment system operators and their critical service providers. Firms must identify important business services, set impact tolerances, and demonstrate ability to remain within them during severe but plausible disruptions.
Directly affects systemic payment infrastructure governance and resilience obligations, with knock-on supervisory expectations for participants.
Action Required
Assess payment system operational resilience frameworks against the new BoE supervisory statement and remediate gaps.
Operational resilience of systemic payment systems is a core supervisory priority and material to financial stability.
New BoE supervisory statement raises operational resilience expectations for RPSOs/SSPs. Review impact tolerances, mapping, scenario testing and third-party dependencies; update RCSA and resilience self-assessments accordingly.
“Bank of England supervisory statement on operational resilience for recognised payment system operators and specified service providers.”