The Payments Risk Committee (PRC) is hosting an executive-level seminar on key principles for contingency and resilience for payment, clearing and settlement (PCS) system participants. The seminar will review noteworthy events of the past decade that created significant challenges for key PCS system participants and service providers, starting with September 11, 2001. Speakers from government, financial institutions and financial market utilities will discuss what happened, what worked, what did not work according to plan, lessons learned and expectations for preparedness (operational and liquidity). Although there are many factors that every organization must consider in planning for localized and systemic problems, this seminar will consider specialized issues associated with payment, clearing and settlement and, in particular, systemic implications of highly interconnected and interdependent systems. Operational, infrastructure and liquidity risks will be highlighted.
The goal is to use the experiences of the last decade as backdrop for identifying lingering gaps, emerging risks, and open issues for possible future work which may include developing or evaluating tools for industry-wide and firm-specific self assessment or further study on emerging topics (e.g., cyber threats).
PRC representatives, PRC Working Group members, executives responsible for business continuity and resilience at PRC member firms and business continuity executives from systemically important financial market utilities.
Tuesday, May 31
Wednesday, June 8
1:00 p.m. – 6:30 p.m.
Federal Reserve Bank of New York
33 Liberty Street
New York City
Contact Radhika Mithal at email@example.com