Severe meteorological events, pandemic illnesses, and other disasters can disrupt a financial institution's operations temporarily and in the intermediate term. Such events have demonstrated the need for operational redundancy and multiple and diverse backup alternatives to ensure institutions can continue operating or restore operations swiftly. This page is primarily dedicated to compiling various Federal Reserve communications such as press releases, guidance, and speeches responding to events that challenge the business resiliency of financial institutions.
Federal Reserve Updates
- Federal financial regulators announce release of Lessons Learned from Hurricane Katrina: Preparing Your Institution for a Catastrophic Event
June 15, 2006 - Press release
- CRA consideration for community development activities in hurricanes Rita and Katrina disaster areas
February 24, 2006 - CA 06-5
- Federal bank and thrift regulatory agencies announce banking forum in New Orleans
February 3, 2006 - Press release
- Federal financial regulators announce public service campaign to help hurricane victims
January 13, 2006 - Press release
- Waiver of appraisal requirements for financial institutions affected by hurricanes Katrina and Rita
October 6, 2005 - Press release
- Agencies announce orders exempting bank transfer agents affected by Hurricane Katrina
September 28, 2005 - Press release
- Governor Olson before the House Subcommittee on Financial Institutions and Consumer Credit
September 22, 2005 - Testimony
- Governor Olson on business trends and management challenges for the banking industry
September 16, 2005 - Speech
- Insured depository institutions encouraged to assist customers displaced by Hurricane Katrina
September 1, 2005 - Press Release
For Consumers and Financial Institutions
- Agencies encourage insured depository institutions to help meet the critical financial needs of their customers and their communities affected by Hurricane Katrina, November 30, 2005
- FFIEC agencies announce additional guidance for financial institutions in response to hurricanes Katrina and Rita, October 6, 2005.
- FFIEC forms working group to address financial industry issues after Hurricane Katrina, September 19, 2005.
- Frequently asked questions (Regularly updated)
- Guidance on cashing FEMA Disaster Assistance checks and government benefit checks issued by the U.S. Treasury
The National Infrastructure Protection Center (NIPC) has issued the attached Suggested Guidance on Protective Measures. The communication provides guidance for developing protective measures based on a heightened threat condition. Although the guidance is directed to critical infrastructure providers, including the critical financial infrastructure providers, it offers suggestions about security measures that should be considered by all financial firms.