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"The Digital Operational Resilience Act (Regulation (EU) 2022/2554), commonly known as DORA, addresses a critical gap in EU financial regulation. Prior to DORA, financial institutions primarily managed operational risks by allocating capital to cover potential losses. This approach failed to encompass all aspects of operational resilience, particularly in relation to Information and Communication Technology (ICT)."

"With the introduction of DORA, financial institutions are now required to follow stringent guidelines for safeguarding against ICT-related incidents. These include measures for protection, detection, containment, recovery, and repair. DORA explicitly targets ICT risks, introducing clear rules for ICT risk management, incident reporting, operational resilience testing, and oversight of ICT third-party risks."

"The regulation recognizes that ICT incidents and a lack of operational resilience can threaten the stability of the entire financial system, even when "adequate" capital is allocated to traditional risk categories. DORA closes this gap by ensuring that operational resilience is not merely about financial buffers, but about the ability to withstand and recover from ICT disruptions."

"1. In order to achieve a high common level of digital operational resilience, this Regulation lays down uniform requirements concerning the security of network and information systems supporting the business processes of financial entities as follows:"

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