Barclays and RBS Group asked for full description of technical meltdown

Barclays and RBS Group asked for full description of technical meltdown

After Barclays and RBS Group systems suffered a meltdown at the end of last week, the Treasury Committee has demanded a full description of the failure and the consequences from the banks.

The Register reports that the bosses were asked for technical details of the failure and its causes, as well as to specify the process of communicating the meltdown to customers. Moreover, Nicky Morgan, Treasury Committee Chair, said that IT stress tests are planned.

As customers are getting annoyed by the all-too-often delays and unavailability, the FCA and the Bank of England’s Prudential Regulation Authority already announced that policies for operational resilience are to be restructured.

Read more about this here.

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