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UK financial regulators consider new reporting requirements to support operational resilience policy making

The Bank of England has announced that it is looking at new protocols to help the Bank of England, PRA, and FCA gather operational resilience information for future policy development in this area.

The ‘Incident, Outsourcing and Third-Party Reporting (IOREP)’ requirements will provide the financial regulators with high quality, consistent, operational resilience data.

The ‘discovery’ stage for the Incident, Outsourcing and Third-Party Reporting (IOREP) use case will begin in Q1 2023.

The ┬áBank of England says that it is in the process of procuring consultants to work on this use case. Parties interested in providing resources for the IOREP case should contact TDCSecretariat@bankofengland.co.uk for more details.

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