Some of the world’s largest banks are dusting down their lockdown contingency plans to guard against possible power outages in London this winter. "All firms regardless of size are paying close attention," Andrew Rogan, director of operational resilience at UK Finance, said in an interview. It means the biggest finance firms need continent-wide contingency plans. In the UK, lenders, building societies and branch officers of overseas banks are all taking part in the discussions, according to UK Finance. They are also looking to off-site locations in London, Essex, Surrey and elsewhere, which could potentially escape localized blackouts.

Source: News 24 September 23, 2022 20:58 UTC