BIS国际清算银行-Covid-19-and-operational-resilience_-addressing-financial-institutions-operational-challenges-in-a-pandemic_9页_321kb

报告摘要

FSI Briefs Summary: Covid-19 and Operational Resilience

Core Content

This document discusses how financial institutions can address operational challenges during the Covid-19 pandemic by enhancing their operational resilience. It highlights the importance of business continuity planning and outlines key elements that regulatory authorities recommend for ensuring the uninterrupted delivery of financial services in the face of a global health crisis.

Main Points

1. Operational Resilience and Pandemic Challenges

Two Challenges: Financial institutions face both financial and operational challenges during the pandemic. Financial challenges include asset value drops and liquidity issues, while operational challenges involve ensuring the continuity of business services.
Operational Resilience: Defined as the ability to prevent, adapt to, respond to, recover from, and learn from operational disruptions. It is a broader concept than traditional business continuity planning.
Pandemic-Specific Risks: Pandemics may last weeks or months, affect global operations, and lead to staff shortages, making traditional continuity measures less effective.

2. Key Elements of Operational Resilience

Critical Employees: Identify roles essential for maintaining financial services and ensure their safety and ability to work remotely.
IT Infrastructure: Ensure IT systems can handle increased usage and maintain information security.
Third-Party Providers: Ensure external service providers and critical suppliers are prepared and capable of supporting operations during a pandemic.
Cyber Resilience: Remain vigilant against cyber threats, which may increase during a pandemic due to more remote access and heightened vulnerability.

3. Supervisory Guidance and Actions

Customer and Staff Safety: Authorities recommend hygiene training, social distancing, and the use of alternative service channels (e.g., online banking, ATMs).
Contingency Plan Review: Financial institutions should assess their existing plans to ensure they are appropriate for pandemic scenarios, including evaluating the speed of implementation and operational sustainability.
Telecommuting and Cyber Resilience: Authorities urge testing of IT infrastructure and enhancing cyber security measures to handle increased remote work and potential cyber attacks.
Identifying Critical Staff: Guidance is provided to help institutions identify essential workers, such as those involved in payment systems, customer access, and risk management.
Coordination with Third Parties: Banks should engage with critical suppliers and service providers to ensure continuity and identify potential weaknesses in supply chains.

4. Testing Operational Resilience

Scenario Testing: Pandemic scenarios should be included in resilience testing, focusing on the unique aspects of the crisis, such as staff absenteeism and increased reliance on digital services.
Communication: Clear communication with internal and external stakeholders is essential to maintain trust and ensure smooth operations.

Key Information

Regulatory Bodies Involved: Monetary Authority of Singapore (MAS), Federal Financial Institutions Examination Council (FFIEC), European Central Bank (ECB), Bank of England, and others.
Guidance Updates: Existing business continuity frameworks are being updated to account for the specific risks of pandemics.
Cyber Threats: There has been an increase in cyber attacks during the pandemic, necessitating stronger cyber resilience measures.
International Efforts: The Bank of England and other global bodies are leading discussions on operational resilience, with a focus on adapting to the evolving nature of financial risks.

Conclusion

The document emphasizes that while past experiences with pandemics like SARS and swine flu offer some guidance, the scale and global nature of the current crisis require a tailored approach to operational resilience. Authorities are urging financial institutions to update their preparedness strategies, test their systems, and maintain communication to ensure continuity of critical services.

References

Auer, R, G Cornelli and J Frost (2020): "Covid-19, cash, and the future of payments", BIS Bulletin, no 3, April.
Bank of England (2019): Consultation Paper 29/19: Operational resilience: Impact tolerances for important business services, December.
Bank of England (2020): Governor statement to Treasury Select Committee, on behalf of the FPC, MPC and PRC, March.
Bank of Italy (2020): Extension of deadlines and other temporary measures to mitigate the impact of Covid-19 on the Italian banking and financial system, March.
Basel Committee on Banking Supervision (2011): Principles for the sound management of operational risk, June.
Board of Governors of the Federal Reserve System (2020): SR 20-6: Identification of essential critical infrastructure workers in the financial services sector during the Covid-19 response, March.
Centers for Disease Control and Prevention (2016): Pandemic intervals framework (PIF), November.
Central Bank of the United Arab Emirates (2020): CBUAE directs banks to replenish ATMs with new banknotes, March.
Cybersecurity and Infrastructure Security Agency (2020): Advisory memorandum on identification of essential critical infrastructure workers during Covid-19 response, March.
De Koning, N (2020): "DNB on business continuity plans for Coronavirus (Covid-19)", Regulation tomorrow, March.
Dubai Financial Services Authority (2020): DFSA Supports the UAE government's measures to address the challenges of Covid-19, March.
European Central Bank (2020): Contingency preparedness in the context of Covid-19, March.
Federal Deposit Insurance Corporation (2020): Frequently asked questions for financial institutions affected by the Coronavirus disease 2019 (Referred to as Covid-19), March.
Federal Financial Institutions Examination Council (2020): Interagency statement on pandemic planning, March.
Financial Stability Board (2020): FSB members take action to ensure continuity of critical financial services functions, April.
Joint Forum (2006): High-level principles for business continuity, August.
Monetary Authority of Singapore (2020a): MAS advises financial institutions to adopt recommended measures for DORSCON Orange, February.
(2020b): MAS tells financial institutions to adopt safe distancing measures, March.
Prudential Regulation Authority (2020): Statement by the PRA on key financial workers who are critical to the Covid-19 response, March.