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Regulators update business continuity manual
ALEXANDRIA, Va. (3/20/08)—-The National Credit Union Administration (NCUA), as part of the Federal Financial Institutions Examination Council (FFIEC), has updated its business continuity planning booklet for financial institutions. The updated information is included in the “Business Continuity Planning Booklet,” which was issued in March 2003. The guidance is intended to help examiners, financial institutions, and technology service providers identify business continuity risks and evaluate controls and risk management practices for effective business continuity planning, according to the agency. NCUA said the revised booklet includes enhancements to the business impact analysis and testing discussions, and addresses emerging threats and “lessons learned” in recent years. The booklet also stresses the responsibilities of each institution’s board and management to address business continuity planning. The must consider technology, business operations, communications, and testing strategies for the entire institution. Key elements of the FFIEC’s December 2007 Interagency Statement on Pandemic Planning have been added to the booklet. Access electronic versions of the “Business Continuity Planning Booklet” and other examination handbooks using the link below.
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