Further, the Bank is making significant investments in its own operational redundancies, increasing the resilience of our systems and our people. It is vital that we be able to “fail over” quickly so our key functions will be maintained in the event of a major disruption, be it a cyber attack, natural disaster or some other crisis.
This is a matter not just of operational continuity, but of maintaining confidence in our financial system in stressed situations. The bottom line is that I am confident that we are doing everything we can on this issue. Still, the system may be only as robust as its weakest link, and that keeps me thinking.