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Mr. Emre Balibek, Ian Storkey, and Hakan Yavuz

Title Page TECHNICAL NOTES AND MANUALS Business Continuity Planning for Government Cash and Debt Management Prepared by Emre Balibek, Ian Storkey, and H. Hakan Yavuz Business continuity planning is a critical part of government cash and debt management to ensure efficient and timely delivery of government services. Yet, many countries struggle to put in place an adequate business continuity plan (BCP) that covers government cash and debt management functions. This technical note and manual (TNM) aims to provide guidance on the steps that countries

Ms. Mary G Zephirin

system users. Adequate business continuity plans, including special arrangements to provide minimum services in case of severe disruption. Effective oversight of the national systems. Arrangements for Crisis Management and Safety Nets The challenges of crisis preparedness and management depend to some extent on the structure of supervision and regulation under the monetary union. Although centralization of supervision may simplify the issue, if resolution laws and regulations and deposit insurance systems remain heterogeneous, coordination issues will

International Monetary Fund

reducing New Zealand’s economic vulnerability, as seen in the robustness of the external debt position to shocks (see Figure 1 ). The New Zealand authorities have also made contingency plans in the case of an avian flu pandemic, including by actively working with financial institutions to promote adequate business continuity planning: see http://www.moh.govt.nz/pandemicinfluenza and http://www.rbnz.govt.nz/crisismgmt/2176891.pdf . 9 Chapter III of the forthcoming Selected Issues paper analyzes New Zealand’s vulnerabilities from a sectoral balance sheet

International Monetary Fund
This 2006 Article IV Consultation highlights that following a vigorous expansion in recent years, a cyclical slowing in New Zealand’s economy commenced in 2005, with growth declining to 2¼ percent. Economic growth had averaged 4¼ percent annually in 2002–04, with domestic demand boosted by large migration inflows, wealth effects from rising housing prices, and income effects from high commodity prices. With slower growth easing resource pressures, inflation is expected to moderate, allowing an eventual easing in monetary policy.
Mr. Emre Balibek, Ian Storkey, and Hakan Yavuz
Cash and debt management operations are part of the “transactional” functions of public financial management. It is critical that these functions are resilient to external disruptions, ranging from information and communication technology (ICT) system outages to natural disasters. This technical manual aims to provide guidance on the steps that government cash and debt management units can follow to develop and implement a practical business continuity plan that economizes the resources used. It also discusses the evolving nature of business disruption risks faced by cash and debt management over the last decade, including the COVID-19 pandemic, as well as risk mitigation solutions that have emerged.
International Monetary Fund. Monetary and Capital Markets Department

covered (banking secrecy law). 21. Country and transfer risks There are limited requirements to monitor developments. 22. Market risk No comments. 23. Interest rate risk in the banking book There is no determination of whether risk appetite, risk limit, risk profile, and capital strength of the bank are consistent. 24. Liquidity risk FX liquidity threshold is low at 10 percent; there is no threshold for LBP. There is no requirement to assess sale capacity of HQLA. 25. Operational risk Many banks don’t have adequate business

International Monetary Fund
Small developing states are disproportionately vulnerable to natural disasters. On average, the annual cost of disasters for small states is nearly 2 percent of GDP—more than four times that for larger countries. This reflects a higher frequency of disasters, adjusted for land area, as well as greater vulnerability to severe disasters. About 9 percent of disasters in small states involve damage of more than 30 percent of GDP, compared to less than 1 percent for larger states. Greater exposure to disasters has important macroeconomic effects on small states, resulting in lower investment, lower GDP per capita, higher poverty, and a more volatile revenue base.
International Monetary Fund

reducing its monetary policy rate by about 340 basis points, and cutting the statutory reserve deposit requirement for commercial banks from 7 to 5 percent. Supervisory authorities should ensure banks have adequate business continuity plans. In Vanuatu, banks were able to provide enough physical currency to proceed with daily activities when banks were closed, ATM machines down, and the only mean of payment available were notes and coins. They also provided waivers on retail customers’ loan repayments for 2 to 3 months and delayed loan repayments for 6 to 12 months to

International Monetary Fund. Monetary and Capital Markets Department
This paper discusses findings of the assessment of Lebanon’s financial system. Lebanon has maintained financial stability for the last quarter century during repeated shocks and challenges. Over time, macroeconomic and financial vulnerabilities have accumulated. Although central bank policies have helped to maintain confidence, fiscal adjustment is needed to reduce risks to financial stability. The banking system has thus far proven resilient to domestic shocks and regional turmoil, but the materialization of severe shocks could expose vulnerabilities. Significant progress has been made to further strengthen Lebanon’s financial integrity framework, with some scope for improvement remaining.
International Monetary Fund
Jersey’s macroeconomic performance is generally satisfactory. Unemployment is low, and the trend growth rate and inflation have been satisfactorily examined. A Detailed Assessment of the Observance of the Basel Core Principles for Effective Banking Supervision Report on Jersey was also done. The legal system, which is broadly based on common law with French and Norman elements, is highly developed. The authorities have substantially adequate powers to direct, intervene in, and close a troubled financial institution.