BANK 7.4.10 Powers of Regulatory Authority in relation to operational risk capital requirement
Despite anything in Division 7.4.A or 7.4.B, if the Regulatory Authority identifies points of exposure or vulnerability to operational risk that are common to 2 or more banking business firms, it may impose specific capital requirements or limits on each affected firm.
• outsourcing of important operations by many banking business firms to a single provider
• severe disruption to providers of payment and settlement services.
|Derived from QFCRA RM/2020-2 (as from 1st January 2021)|