The latest business continuity news from around the world

European Central Bank report captures pandemic business continuity lessons

The European Central Bank (ECB) has published a new report, ‘Best practices applied by financial market infrastructures in their business continuity plans during the COVID-19 pandemic’.

The Eurosystem comprises the ECB and the national central banks of those countries that have adopted the euro. During the current pandemic, the Eurosystem has been collecting information on the preparedness of payment systems/schemes and their critical service providers for dealing with the pandemic as well as the responses and resilience measures taken.

Based on these observations, the Eurosystem has compiled a set of key market practices for pandemic crisis planning and these are published in the report with the aim of:

  • Providing support for the overseers in monitoring overseen entities, thus ensuring that the respective system operators are managing the crisis effectively and
  • To identify what market practices related to pandemic crisis planning are or could be applied by payment systems/schemes in their business continuity plans in a flexible way, taking into account the specificities of each entity. As these market practices may also be valid for other FMIs, the remainder of the document refers to FMIs.

Read the document (PDF).

Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.