Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
New pandemic guidance for CUs
WASHINGTON (12/14/07)—The Federal Financial Institutions Examination Council (FFIEC) this week issued guidance for all financial institutions to use to minimize the effects of a pandemic disaster. This guidance is intended to supplement the “Letter to Credit Union 06-CU-06 - Influenza Pandemic Preparedness” issued by the National Credit Union Administration in March 2006, as well the “Interagency Advisory on Influenza Pandemic Preparedness” issued on March 15, 2006 by the federal banking and thrift regulators. The new FFIEC document identifies actions that a financial institution should take to build its business continuity Plan (BCP). Such a plan should include planning for a pandemic event and provide for a preventive program, as well as:
* A documented strategy scaled to the stages of a pandemic outbreak; * A comprehensive framework to ensure the continuance of critical operations, * A testing program; and * An oversight program to ensure that the plan is reviewed and updated.
The FFIEC advised that the pandemic segment of a BCP must be sufficiently flexible to address a wide range of possible effects that could result from a pandemic, and also be reflective of the institution’s size, complexity, and business activities. The FFIEC is comprised of representatives from the NCUA, Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision. Use the resource link below to read the interagency guidance.
Other Resources

RSS





print
News Now LiveWire
Neb. #creditunions report widespread growth: 3Q review #NewsNow #system http://t.co/BavEljz15w
17 minutes ago
Economic growth leaps in Nov, @ChicagoFed reports http://t.co/8Xo9lKLFf2
38 minutes ago
#NewsNow Redwood CU branch manager will do double duty as mayor http://t.co/yRnkcQYrEG
1 hours ago
.@PCUA PAC donors notch record $151K+, surpassing 2013 total
1 hours ago
Cheney, La Pine, Middleman join @NCUFoundation board #NewsNow http://t.co/4C14PZpFf5
2 hours ago