10
Access to operational assets
10.1
In implementing Operational Continuity 3.4, the PRA expects firms to be able to demonstrate how access to operational assets supporting critical services will be maintained at the point of stress, resolution, or related restructuring of the firm, another group entity, or the service provider itself. This applies irrespective of the firm’s service provision model.
- 01/01/2023
10.2
Types of operational assets the PRA considers should meet this expectation include, but are not limited to, technology, data, intellectual property, premises, licences, and leases.
- 01/01/2023
10.3
This expectation is particularly important for subsidiaries where a subsidiary’s parent company (or another subsidiary on behalf of the group) negotiates contractual arrangements at a group level.
- 01/01/2023
10.4
If firms cannot adequately demonstrate that they will have continued access to the operational assets of any group entity in resolution, the PRA may expect the operational assets necessary for performing critical services to be owned or leased by the same firm that receives the critical services.
- 01/01/2023