Regulatory Alerts2025-01-20
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Good practices for mapping interdependencies and scenario testing
The Hong Kong Monetary Authority issued this annex to outline good practices for Authorized Institutions implementing operational resilience frameworks, specifically focusing on mapping interdependencies and scenario testing. It mandates effective governance oversight, comprehensive mapping of critical operations using risk-based approaches, and dynamic scenario testing that engages third parties to assess disruption tolerance. Furthermore, the document requires institutions to establish robust remediation strategies for identified vulnerabilities, utilizing tracking tools and prioritization to ensure critical operations remain within defined tolerance limits.
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