Much work still needs to be done and it is appropriate that the final statistical framework for the macro-prudential oversight of the financial system will be decided by the ESRB. I would like to distinguish between four main types of statistical deliverables. The first is macro-financial information relating to the macroeconomic environment, financial market data and information on financial market infrastructures.
Such disruptions require immediate interventions from the Government and the regulatory authorities. Thus, the scope of business continuity plans that the central banks and other institutions develop go beyond the avian flu. Preparedness with effective business continuity plans is desirable not only for dealing with the issue of avian flu but would also be helpful in case of other contingencies of any nature.