Source: Federal Financial Institutions Examination Council
US regulatory agencies relay comments made by financial institutions regarding lessons they learned from the effects of Hurricane Katrina.
The Federal Financial Institutions Examination Council (FFIEC) states that the unprecedented magnitude and duration of the effects of Hurricane Katrina caused major disruptions that exceeded the scope of the disaster recovery and business continuity plans of some financial institutions. Many institutions had to adjust plans and improvise responses to successfully address unexpected complications.
The document outlines lessons learned by financial institutions affected by Hurricane Katrina and its aftermath. The FFIEC suggests that banks consider this information when reviewing disaster recovery and business continuity plans.
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