This summary presents key findings from a cross-sector survey on how UK financial firms measure resilience.

This document replaces the FXJSC Operations Sub-Committee FX Settlement Crisis Management Playbook, Version 2, updated Oct 2018. It sets-out a principles-based approach to assist Market Participants in reducing the size and duration of their Settlement Risk during a settlement crisis event, supporting principles of good practice set-out in the FX Global Code.

CMORG endorsed a proposal to develop a capability to support a timely firm-level response following an NPO. The aim of this playbook is to facilitate a coordinated restart of the UK financial system after an NPO and to ensure systems do not automatically resume data transmission and processing causing further disruption or delay once power and telecoms is restored.

Firms can use this template to map their representation across Sector Response Framework (SRF) response groups by identifying which groups they participate in and recording the names and contact details of their appointed representatives. This mapping aims to increase clarity, streamline communication, and enhance collaboration during disruption.

A refresh of the 2023/4 Strategic Risk Register to capture the most relevant risks facing the financial sector in 2025. The register has reflected the Operational Resilience Collaboration Group's (ORCG) Threat Monitoring Framework, the Dynamic Scenario Library, National Risk Register and the Authorities’ recommendations to provide an informed view of the threat landscape.

This document outlines a ‘principles-based’ approach to implementing effective business continuity responses across UK retail firms and which can be referred to during operational disruption, affecting Mortgage advances and property completions.

This is the CMORG Artefact Library as of May 2025.

The concept of a Voluntary Sterling Settlement Postponement (VSSP) first arose during the 1987 Storm when many London staff were unable to travel to work and the high street banks agreed with the Bank of England (‘the Bank’) that it was not possible to run an orderly settlement day and closed.

It was then documented as part of the sector’s contingency toolkit for SIMEX16 ahead of UK Finance accelerating further planning for Covid-19 including delivering supporting some operational artefacts. The legal analysis output formed the Phase 1 Closure Report to support industry awareness. A VSSP Phase 2 Working Group was established under governance of the Cross Market Operational Resilience Group, which has developed this playbook.

This playbook is a Cross Market Operational Resilience Group (CMORG) capability, delivered under the governance of the CMORG Cyber Coordination Group in collaboration with the Financial Sector Cyber Collaboration Centre (FSCCC). It is intended to support effective sector coordination and information
sharing in response to a major third party zero day or critical vulnerability.

The playbook is aligned with FSCCC strategic objectives to define collaborative methods between members to improve industry’s ability to respond to cyber threats and/or incidents with actual or potential systemic impacts to the UK financial sector.