Eurozone Single Resolution Board publishes revised guidance on operational continuity in resolution

The Single Resolution Board has published a revised version of the operational guidance on operational continuity in resolution. The guidance provides further clarifications to banks on how to implement SRB expectations for resolvability related to: (i) service identification and mapping; (ii) assessment of operational continuity risk; and (iii) mitigating measures, such as having adequately documented, resolution-resilient contracts, appropriate management information systems, and governance arrangements.

The guidance was originally published in 2021, the new revisions follow the development of new frameworks, such as the Digital Operational Resilience Act, and new provisions, such as the European Banking Authority's Guidelines on improving resolvability. The SRB notes that some of the additions will, in practice, depend for their application on measures currently pending.

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