The U.K.'s central bank will likely require big banks to meet certain levels of service provision when facing cyber attacks and other business disruption Reuters reported, citing Lyndon Nelson, deputy CEO at the bank's Prudential Regulation Authority.

The bank is set to publish a discussion paper on this issue.

Recently, TSB Banking Group PLC customers faced huge disruption when the bank moved to a new IT platform. The fallout has cost the bank at least £70 million.