Looks like APRA have been looking at what is happening at the FSA – or maybe this blog.
A new Prudential Practice Guide on pandemic situations has just been released – and can be expected to be included in future prudential visits. Essentially, and amongst other things, an ADI will need to have in place plans for between 25 and 50 percent of its staff to be off-site for periods of between 6 and 18 months.
This follows the statistics discussed by John Barry in his book on the great influenza pandemic – as reviewed here by Penguin Unearthed (to whom I am indebted for raising this).
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2 comments
9 October, 2006 at 8:09 pm
penguinunearthed
Thanks for the link.
Another place to look for scenarios (which I know APRA looked at in thinking about this Guide) was the Lowy Institute’s study of pandemics – http://www.lowyinstitute.org/Publication.asp?pid=345
We used it in thinking about sensible scenarios.
9 October, 2006 at 8:43 pm
ozrisk
Thanks for that. BTW, the paper you are presenting later this month – will that ever be available on line? As I am not either of the relevant cities I will not be able to see it, but I would like to see what you have to say, particularly in relation to the European framework.