Philippine central bank orders banks to prepare

PHILIPPINES - The central bank has required banks to submit a contingency plan within 30 days to contain possible risks arising from the terrorist attacks in the US last month, central bank deputy governor Alberto Reyes said.

Reyes said the central bank wants banks to present a business continuity plan in case of "emergency situations". "Just in case something happens, they would have back up files and transfer and recovery plans," he added, referring to significant bank records. "The senior