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Business Continuity Guidelines

Published: Tuesday May 1st, 2007

The Central Bank is pleased to announce the release of The Business Continuity Guidelines (the Guidelines). The Central Bank believes that an effective Business Continuity Plan (BCP) will assist in improving the safety and soundness of its licensees, by allowing them to better manage disasters when they occur and to recover from disasters within a shorter period of time. The Guidelines set out the Central Bank's supervisory approach to business continuity planning and outline the essential principles that the Central Bank will use as a benchmark in assessing the adequacy of its licensees' BCPs. The Guidelines are consistent with the Joint Forum's High-level principles for business continuity issued in August 2006, as well as international guidelines and prudential standards. The Guidelines replace the Guidance to Financial Service Licensees on Hurricane Related Disruptions issued by the Central Bank in June 2006.