Europe Banks Prepare Backup Generators & Dimmed Lights

Major European banks are test-running how to cope amidst potential power shortages, with plans including diesel-power generators, squeezing office space, cutting hot water and turning off lights overnight.

JPMorgan has run power outage simulations already with generators that will offer a few days’ power amidst fears that ATMs and online transactions may be crippled, while Deutsche Bank has cut back energy usage in its 1,400 premises in Germany, even turning off the fountain at HQ.

Avi Schnurr, CEO of think-tank the Electric Infrastructure Security Council, still believes there is “a serious gap in resilience planning”.

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