Skip to main content

Why banks must prepare for a 'black ash' event

Erupting volcanoes do not often show up in scenario plans for financial services firms but they might do from now on.

volcanoash

An event such as a giant volcanic ash cloud closing the European airspace for almost a week is proof that so-called black swans – or extremely rare loss events – really do happen. The chaos caused by the eruption of Iceland's Eyjafjallajökull volcano brings home the importance of having business continuity plans in place that prepare for all eventualities.

"The volcanic ash cloud and the effect

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Want to know what’s included in our free membership? Click here

Emerging trends in op risk

Karen Man, partner and member of the global financial institutions leadership team at Baker McKenzie, discusses emerging op risks in the wake of the Covid‑19 pandemic, a rise in cyber attacks, concerns around conduct and culture, and the complexities of…

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here