Signals
high·PRA · Prudential Regulation Authority
PRA/FCA Policy Statement PS6/21 — Building Operational Resilience
The PRA and FCA finalised joint policy requiring banks, insurers, and FMIs to identify important business services, set impact tolerances, and demonstrate the ability to remain within tolerances during severe but plausible disruptions. Self-assessment and scenario testing obligations became binding in March 2025 following a three-year implementation period.
Materiality
Horizon
Immediate
Source Type
supervisory guidance
Published
15 April 2021
AI Commentary
The March 2025 deadline has passed. Supervisors are now in active review mode and DORA has introduced equivalent EU obligations. Firms should treat the March 2025 self-assessment as a baseline and begin preparing for the first PRA/FCA thematic review, expected in H2 2025.
Related Themes
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