We are talking to institutions about the robustness of their contingency plans and encouraging them to ensure that the planning process includes participation from all relevant areas of their organization and includes expanded scenarios that take into account the effects that might flow from sudden, external events. But, we are stopping short of imposing detailed regulatory standards.
4  BIS Review 30/2002  As best practices emerge to address the new paradigm, we may find it appropriate to expand supervisory guidance so as to obtain the appropriate level of overall resilience for the financial system. I expect we will come to some conclusion about the need for additional guidance over the next few months.