The drill assumed that due to unexpected events, the headquarters or other important operating sites of banks in Central as well as the HKMA s office became inaccessible. Hence, banks and the HKMA need to simulate the activation of their BCPs and operate in their respective back-up offices.
The exercise sought to test the reliability and stability of the communications between the HKMA s and participating banks back-up offices. At the same time, banks were required to submit situation reports to the HKMA s back-up office. The drill was organised by the HKMA and participated by 55 banks. To the extent that areas of enhancement are identified through the drill, the HKMA will follow up with the banks concerned.
The HKMA requires banks to have in place appropriate BCPs and to carry out periodic reviews and tests to ensure that the operation of their core business can continue under adverse circumstances, so as to minimize the impact on bank customers and the general public.
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