WASHINGTON–Starting late last September, the U.S. Department of the Treasury, The Financial and Banking Information Infrastructure Committee, and the Financial Services Sector Coordinating Council held a pandemic outbreak response exercise.

The voluntary program was a three-week table-top exercise that included banks, securities firms and insurance companies as well as state- and federally-chartered credit unions.

Each participant worked through various scenarios to determine how well they would cope with human resources, continuity of operations, and other issues in the event of a flu pandemic.

A planning committee involving major trade associations, regulators and large and small financial institutions drafted the actual exercise scenario.

Branches could be involved if a financial institution decided that's what they wanted to do.

Sponsors pointed out the exercise would apply not only to a flu pandemic but to issues involving HR, legal, transportation, information technology, and health care, that could arise in any crisis.

Results of the exercise will be published early in 2008

–ecour58516@aol.com

Instant Insights /

Financial Institutions Consider Consequences of Pandemic Flu

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