The member agencies of the Federal Financial Institutions Examination Council (FFIEC) and the Conference of State Bank Supervisors have issued a booklet entitled: LESSONS LEARNED FROM HURRICANE KATRINA: Preparing Your Institution for a Catastrophic Event. The booklet relays financial institutions' experiences and lessons learned in the aftermath of Hurricane Katrina that other institutions may find helpful in considering their readiness for a catastrophic event.
Major hardships faced by these institutions included the following:
ï¿½ Communications outages made it difficult to locate missing personnel.
ï¿½ Access to and reliable transportation into restricted areas were not always available.
ï¿½ Lack of electrical power or fuel for generators rendered computer systems inoperable.
ï¿½ Multiple facilities were destroyed or sustained significant damage.
ï¿½ Some branches and ATMs were under water for weeks.
ï¿½ Mail service was interrupted for months in some areas.
This webinar will explain the effects of a disaster and how, by examining what has transpired in the past, financial institutions can develop and maintain a more sound disaster recovery and business continuity plan.