Which of the following is true in relation to a Contingency Funding Plan (CFP)?

A CFP is indeed a disaster recovery plan to deal with a liquidity crisis. Therefore statement I is correct.

A CFP should consider market stress conditions, including wide scale failures of payment and settlement systems. Statement II is not correct.

It is true that reputational damage may result if a firm has to activate its CFP - therefore the plan should consider internal and external communications, the timing of information release and the groups within the firm who need to know about the implementation of the plan. Reputational damage can only make any existing liquidity problems worse. Statement III is correct.

Sources of emergency funding should not include funding from the central bank - unless as part of a regular lending facility. Its role as a lender of last resort can not be considered in a CFP. Statement IV is incorrect.

Therefore only statements I and III are correct.