Similarly, the challenges to achieving that goal are numerous, involving, as I indicated, people, business, and technology. Given the importance and complexity of this topic, senior management will need to become fully engaged. At the international level, the openness of our financial systems means that the business-continuity practices in one country can affect critical markets in another.
We will therefore need to share information and sound practices that will help us address regional risks in various countries. At this stage, this does not necessarily mean traditional regulatory coordination. Rather, private firms and the financial authorities will need to work together within their various communities and with each other to make our key business-continuity practices more robust and more consistent.