A provider so vital that the incapacity or unavailability of that provider may have a debilitating impact on the business. See Critical Activity. Examples of industry specific guidelines include: FFIEC Supervision of TSP – Booklet, Division of Technology; and OCC Bulletin 2013-29. OCC has a specific definition of this term that includes payments, significant shared services, major impact on operations.
Retrieved and adapted from OCC Bulletin 2013-29. (2018). https://www.occ.gov/news-issuances/bulletins/2013/bulletin-2013-29.html