|1. Severe but Plausible Scenarios refer to situations that would result in high impact and significant disruptions, and while unlikely to occur, remain probable
Severe but Plausible Scenarios:
Note (1): are developed for the financial services industry to strengthen its operational resilience, especially in its business services.
Note (2): include the consideration of previous actual incidents or “near misses” within the organisation, across the financial sector and in other sectors and jurisdictions, to build these scenarios
Note (3): are expected to evolve as the organisation learns from the scenario testing process.
Note (4): are when the nature, scope, or scale of the event goes beyond pre-defined recovery measures and supporting assumptions
Related Terms: Plausible Scenarios, Severe but Plausible Scenarios, Impact Tolerance