BoE simulates ‘major operational disruption’ to UK firms
Central bank restarts “Simex” testing of financial sector after pandemic hiatus
The Bank of England tested 50 large financial firms this week for their ability to withstand a “major operational disruption”.
The UK central bank ran the simulation over the course of two days in conjunction with the Treasury, Financial Conduct Authority and a group of firms. The different organisations worked together as the Cross-Market Operational Resilience Group. “The initiative aims to improve the resilience of the UK financial sector through collective action,” the BoE said in a
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