Pandemics And Payments - UK Financial Sector Tests Impacts
The UK's banking regulators (FSA, HM Treasury and the Bank of England) have published a report titled "2006 Financial Sector Market Wide Exercise" (PDF) summarizing a six week test conducted last fall intended to test the UK financial sector's resilience to pandemic influenza. "The distinguishing feature of a pandemic is that its main impact is upon the availability of personnel rather than on physical assets. ... Across the financial sector as a whole, not surprisingly, the heaviest impact of the pandemic was upon the more labour-intensive parts, notably the provision of customer-facing retail financial services."
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