The European Banking Authority (EBA) today launched a public consultation on draft Regulatory Technical Standards (RTS) specifying the operational risk management framework that institutions must have in place as per Article 323 of the Capital Requirements Regulation (CRR3). The draft RTS set out harmonised, proportionate requirements for the governance, management process and systems institutions should use to identify, assess, monitor and manage operational risk. The consultation runs until 31 December 2026.

​The draft RTS specify the three main components of the framework: 

• ​governance arrangements

• ​the operational risk management process

• ​the operational risk assessment system.