ORX response to BCBS resilience & PSMOR consultations

Service

ORX Membership

Community

Operational Resilience Community

Risk programme

Leadership, Strategy & Advancing Op Risk

Regulatory response - November 2020

Using our position as a global operational risk association, we've brought together the thoughts of our members to create a group response to the BCBS consultation.

We're interested in how well suited the proposals are for today, and how well they will accommodate future innovation. ORX All ORX members can download the response letters to read more.

About the BCBS consultations

On 6 August the Basel Committee on Banking Supervision (BCBS) published a consultation on principles for operational resilience and the long-awaited revisions to the principles for the sound management of operational risk (PSMOR). These were the first formal consultations on operational risk supervision for several years.