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Tripartite Arrangements

Volume 467: debated on Thursday 22 November 2007

To ask the Chancellor of the Exchequer what scenarios have been used to test the effectiveness of the tripartite arrangements between his Department, the Bank of England and the Financial Services Authority. (164466)

[holding answer 15 November 2007]: The tripartite arrangements have been tested regularly over recent years. For public policy reasons details of the scenarios are not published where they cover financial stability events.

The authorities have also regularly tested their responses to operational disruption scenarios. Since 2004 the tripartite has arranged an annual market-wide exercise, involving both the authorities and a cross-section of financial sector firms, to test responses to operational disruption covering terrorist attacks and pandemic influenza outbreak.

Reports on these exercises can be found on the UK Financial Sector Continuity website:

www.fsc.gov.uk.