Regulatory Alerts2022-05-31
Added · Updated
Supervisory Policy Manual: New Module OR-2 on Operational Resilience and Revised Module TM-G-2 on Business Continuity Planning
The Hong Kong Monetary Authority issued this circular on 31 May 2022 to introduce new module OR-2 on Operational Resilience and revise module TM-G-2 on Business Continuity Planning for all authorized institutions. The updated framework requires financial institutions to identify important business services, set impact tolerances, and map dependencies to ensure they can withstand and recover from operational disruptions. These changes align supervisory expectations with evolving risks, mandating robust testing and reporting mechanisms to maintain critical functions during severe stress scenarios.
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