We have clearly moved to risk management of COVID, but that still means Banks must understand the risks.

https://www.aljazeera.com/news/2023/1/14/what-is-the-new-covid-variant-xbb-1-5

Unofficially named Kraken, XBB.1.5 is a sublineage of XBB – a combination of two strains of the subvariant BA.2. It was first detected in October 2022 in the US.

XBB.1.5 has been circulating in at least 38 countries, including Canada, Australia, Kuwait, Germany and France .

Canada has seen 42 cases documented which represents 100% increase over one week ago.

The slower uptick in Canada is a result of holidays and Canada de-prioritishing COVID measurement.

The US CDC indicates 1.5 will be the most rapidly growing sub variant. As of Thursday, it has been identified in 29 countries.

Of concern is the variants growth advantage and apparent ability to escape immunity bypassing the bodys front line defences.

Relevance to Bankwatch

The usual caveats:

1. Take masking seriously particularly if using subway
2. Ending “work from home” is not a simple decision for Banks and requires risk analysis of the impacts on Business Continuity and continued focus on mitigation plans.
   

… #COVID #businesscontinuity