Payment and settlement systems are central components of any financial market and their smooth functioning is of crucial importance. It is essential that these systems are exposed to as few risks as possible, including operational ones, in order that the Deutsche Bundesbank may fulfil its statutory mandate to to ensure payments efficiency and security. The Bundesbank’s activities relating to operational risks can be divided into three areas of responsibility:

• Both at a national level and European level, the Bundesbank, as an integral part of the European System of Central banks (ESCB) and a member of the Committee on Payment and Settlement Systems (CPSS) of the G10 central banks, is actively involved in developing international standards and principles to address the operational risks which exist in the area of payments.
• A  further key concern of the Bundesbank is to engage in contingency planning with respect to its own systems and those systems for which it acts as a service provider within the Eurosystem. In this context, for instance, a wide range of organisational, technical and staffing measures serve to ensure the uninterrupted operation (ie, business continuity) of TARGET2, meaning that it continues to function smoothly, even in crisis situations.
• Furthermore, in consultation with the German Banking Industry Committee (GBIC), the German banking industry and major market participants in the German financial market, the Bundesbank has set up a communication infrastructure to deal with serious crises and threat scenarios in the area of individual payments. In the event of an emergency, this network allows the speedy and targeted exchange of information on the current situation and serves as a platform to discuss and decide on future steps.

The website lists selected standards and initiatives and provides a glossary and links to the business continuity websites of EU/ESCB central banks for the purpose of enhancing understanding and promoting transparency regarding the activities and objectives of the Bundesbank in the area of business continuity.