Versions

 

OM-4.1.3

Since the delivery of corporate and customer services represent key strategic and reputational issues, such problems could cause serious difficulties for banks and even jeopardise their ability to conduct key business activities. This requires the bank to establish business continuity and contingency plans outlining operating procedures and lines of communication, both formal and informal, in the event of an unexpected disaster (also see Basel Committee paper 'Framework for Internal Control Systems in Banking Organizations' for further guidance).