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Discussion Paper
An Approach to Quantifying Operational Resilience Concepts
This paper uses public data disclosed in eight bank holding companies' "living wills", or Resolution Plans, to examine and test how operational resilience can contribute to financial system stability. The banks, each subject to the Large Institution Supervision Coordinating Committee (LISCC) supervisory program, interact in a complex network of Financial Market Utilities (FMUs). By employing complementary public data on operational exposures and benchmarks for operational disruption developed in existing research, we construct plausible estimates of how various disruption events would impact ...