On 18 September 2025, the Bank of England (BoE) published a speech by Liz Oakes (External Member of the Financial Policy Committee) entitled A systemic risk perspective on operational resilience.
Liz Oakes explains how the BoE’s Financial Policy Committee thinks about operational resilience from the perspective of protecting financial stability. She highlights the importance of firms considering system-wide dynamics when managing operational risks, and how collective action initiatives, like the Cross Market Operational Resilience Group, are an important tool to help with this.