In accordance with COBAC Regulation R-2008/01 requiring credit institutions to prepare a business continuity plan, Recovery objectives should serve as benchmarks for evaluating the effectiveness of business continuity management and achieving a consistent level of resilience.
The legislative and executive bodies are responsible for establishing recovery objectives commensurate with the risk that the credit institution concerned poses to the functioning of the financial system as a whole and to the safety of depositors.
The recovery objectives must include the continued provision of critical services and, where appropriate, depending on the specific situation of the credit institution, meet requirements than those of the other participants in the banking system.