11 December 2017
visit www.avoka.com

FSA orders banks to reassess flu contingency planning

01 May 2009  |  6399 views  |  0 london tower bridge

The Financial Services Authority has called on UK financial services firm to assess their contingency plans in light of the recent outbreak of influenza in Mexico and subsequent alerts from the World Health Organisation.

The watchdog says it is already contacting the 'high impact' firms including infrastructure providers that it regulates to establish whether the influenza outbreak is affecting any aspects of their business.

In 2007 the FSA urged the sector to re-evaluate contingency strategies after a planning exercise found that increased staff absences could lead to branch closures and empty cash machines.

The mock excercise, which involved the UK's Tripartite authorities and ran for six weeks, found that absence rates at financial firms could top 60% in some business units in the event of a pandemic.

In Mexico, the source of the current outbreak, the country has instigated a five-day shutdown of parts of its economy in a bid to slow the spread of the virus.

China has also confirmed its first case, taking the tally of nations hit to 14. However, preliminary analysis by scientists suggest that the virus is a relatively mild strain snd nowhere near as dangerous as the feared H5N1 bird flu strain.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US bird flu tests highlight need for more planning

US bird flu tests highlight need for more planning

28 January 2008  |  4872 views  |  0 comments
US financial sector to test bird flu response

US financial sector to test bird flu response

25 May 2007  |  9547 views  |  0 comments
UK bird flu tests expose contingency planning weaknesses

UK bird flu tests expose contingency planning weaknesses

05 January 2007  |  12411 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.solutions.lexisnexis.comvisit www.atos.net

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18115 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11032 views comments | 7 tweets | 6 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
6651 views comments | 13 tweets | 20 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6414 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5822 views comments | 5 tweets | 12 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job