When the World Trade Centre was hit by terrorists last year, 60% of telephone land lines in lower Manhattan were put out of action. Large institutions’ communication systems were hit hard and the New York financial markets were forced to close for four days.
A year on, how much better prepared to cope with systemic disaster is the financial services industry? In the weeks and months following September 11, continuity planning and operational resilience (nobody, it seems, cares to use the phrase disaster recovery) was a priority for every business.
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