UK central banker warns against half-baked contingency plans
DISASTER RECOVERY
LONDON -- A major part of the work of financial regulators overseeing the development of contingency planning is to ensure time isn’t wasted with "half-baked" schemes, Bank of England executive director Alastair Clark said in April.
Some of the issues raised in the wake of the September 11 attacks on New York’s financial district are difficult to call in terms of the possible cost-benefit balance. Further work is needed before any plan can sensibly be decided, Clark told the UK Association of
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