Guidance

SS4/21 – Ensuring operational continuity in resolution

Chapter

Objective service level agreements

Printed on: 01/11/2024

Rulebook at: 01/01/2023

8

Objective service level agreements

8.1

For all service provision models, objective documentation of service provision helps to identify operational interdependencies, may guide restructuring efforts, and provides a basis for TSAs.

  • 01/01/2023

8.2

In implementing Operational Continuity 3.1, the PRA expects firms to ensure that the arrangements for the provision of critical services are objective and well documented, and include the following as a minimum:

  • clear parameters against which service provision can be measured, including quantifiable and qualitative metrics and performance indicators;
  • the provider and recipient(s) of the service;[17]
  • the nature of the service and its charging structure;
  • any onward provision to other entities or sub-contracting to non-group providers; and
  • for intra-group and non-group critical services, provisions that terms and pricing should not change as result of a party to the contract entering stress or resolution (see Chapter 6).
  • 17. For intra-entity critical services, this may be the business unit providing or receiving the service.
  • 01/01/2023

8.3

The PRA expects that, consistent with Chapter 4 of this SS, objective SLAs are comprehensive, up to date, and accessible. This includes being able to provide relevant information to the PRA within a reasonable timeframe, if requested.

  • 01/01/2023