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1. Critical Operation is defined as a business output that, if interrupted during the operational period, will cause financial loss, damage, or interruption to the delivery of goods or services essential to the organization’s continued operation or success.
Notes (2): Besides the FED, the Basel Committee for Banking Standards (BCBS), the Hong Kong Monetary Authority (HKMA), the Australian Prudential Regulation Authority (APRA),Bangko Sentral ng Pilipinas (BSP) Guidelines on Operational Resilience and the Reserve Bank of Inida (RBI) are also using these terms.
