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 new Supervisory Policy Manual module OR-2 on Operational Resilience and revised module TM-G-2 on Business Continuity Planning to implement the Basel Committee's Principles for Operational Resilience. These modules require all Authorized Institutions to develop an integrated operational resilience framework and align their business continuity planning with enhanced regulatory expectations. Institutions must establish their frameworks by 31 May 2023 and achieve full operational resilience no later than 31 May 2026.
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