By guaranteeing business continuity, securing client funds and ensuring the fluidity of international transactions, the Crédit Agricole Group endeavours to anticipate risks and meet the expectations of its clients under all circumstances.
Risk management
Risk factors and the organisation of such are discussed in the report of the Chairman of the Board of Directors to the general shareholders' meeting (p. 32 to 49) and the Management Report (annexes p. 139 to 168) of the 2007 sustainable development compendium, particularly as concerns Basel II-related procedures
Guaranteeing business continuity
The business continuity plan (BCP) is intended to safeguard the Group's activities in the event of a pandemic, flood or natural disaster. A cross-functional plan is deployed within each Group company, covering the partial or total unavailability of sites and IT systems, with solutions such as backup sites, relocation of activities, outsourcing or remote working, as well as a crisis communication plan, a freephone number for employees, business line procedures and IT and telecoms backup plans. Drills are conducted regularly to test these procedures and employees have received extensive information via the intranet. At the majority of subsidiaries, the BCP has been based on identification of the needs of each entity and of key business procedures.
The Group has implemented preventative measures to protect against foreseeable catastrophes such as the flooding of the Seine (see focus).
Involvement in the Single Euro Payments Area
As market leader in payment services, controlling 30% of the French market for transfers and direct debits, the Crédit Agricole Group has taken action to enable its clients to benefit fully from the Single Euro Payments Area (SEPA) and safeguard their transactions. As a result of the SEPA project, to which the Group has contributed actively, from 2008, international transfers in euros are subject to the same conditions as domestic transfers for the 27 European Union member states, Iceland, Liechtenstein, Norway and Switzerland. This facility will be extended to card payments and direct debits in 2009. Eventually, standards for SEPA transactions - which are safer and quicker - will replace local standards.
Focus
The Group's anti-flood plan
If the Seine were to flood as it did in 1910, all of the Group's entities in the Paris region would be affected, either directly in the event of the flooding of buildings or indirectly in the event of power cuts. Supervised by subsidiary Crédit Agricole Immobilier, the Group's anti-flood plan ensures the continuity of business thanks to preventative measures and a series of actions that vary depending on the severity of flooding: vigilance if the water level reaches 2.5 metres at Quai d’Austerlitz, warning if roads along the Seine are closed, crisis in the event of flooding of basements and major crisis if evacuation is necessary.
- SEPA : Single Euro Payments Area ou espace unique de paiements en euro.
