On 29 November 2021, the Single Resolution Board (SRB) published an updated version of its guidance on operational continuity in resolution (OCIR) which was published in July 2020. The guidance provides clarification for banks on how to implement the SRB’s expectations for operational continuity and has an indicative phasing-in timetable. In particular, the guidance covers the SRB’s expectations related to service identification and mapping, assessment of operational continuity risk, mitigating measures, resolution-resilient contracts, appropriate management information systems and governance arrangements. The  guidance has been updated with more details on topics related to financial resilience and staffing (paragraphs 48 to 64).

 

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