In response to a request from the Financial Stability Forum in September 2004, the Joint Forum determined that high-level principles on business continuity would contribute beneficially to the resilience of the global financial system. A formal working group of the Joint Forum was established in early 2005 and this paper is the result of its efforts.
Recent acts of terrorism, outbreaks of Severe Acute Respiratory Syndrome and various widespread natural disasters have underlined the substantial risk of major operational disruptions to the financial system. Financial authorities and financial industry participants have a shared interest in promoting the resilience of the financial system to such disruptions.
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