Earthquake hits Manila

During a break at the BNP Paribas workshop in Hong Kong, one of the participants announced that her husband just texted her that a strong earthquake hit Manila.

It did cause panic and people evacuated buildings for safety's sake. There were no reported casualties.

Told Milette that last Nov. 24, I was supposed to join Tina in a Disaster Recovery exercise at PNB's Branch Recovery Center. Looks like the drill was timely ... just in case the earthquake actually disrupted the Head Office's capability to conduct business, the exercise would still be fresh in the minds of the participants.

I wondered how many in the office actually know where the BRC is located. On previous years, since the exercise started, the dealing room's representative had always been me. I've been a convenient choice since I've sat in almost all the desks and I was in the OPICS conversion team. This year though, Tina had to go since I had scheduled packing and making last minute preparations for the Hong Kong trip on the day of the drill.

Joked to Milette that in case the whole of Luzon is affected that even the BRC is not operational, PNB Treasury could actually set up a Business Recovery Center in Hong Kong - she could handle FX Bonds trading and Peso Liquity, I would handle FX spot/swap and Phil. GS trades, and Boss Mon (who is also in Hong Kong - but on vacation, not on a business trip) remains treasury head and directing us what to do. He he he!