Dear Board of Directors:
The purpose of this Letter is to provide all Federally Insured Credit Unions with a copy of the FFIEC booklet titled Lessons Learned From Hurricane Katrina: Preparing Your Institution for a Catastrophic Event. This booklet outlines the many lessons learned by financial institutions in working through the aftermath of Hurricane Katrina. It is intended as a tool to help you enhance your institution’s disaster preparedness plans.
The booklet was produced jointly by the Federal Financial Institutions Examination Council (FFIEC1) and the Conference of State Bank Supervisors. The booklet provides the specific lessons learned from Katrina along with a series of thought provoking questions to aid in evaluating your own plans. The content of the booklet can be applied to hurricane preparation as well as many other types of catastrophic events.
If you have any questions regarding the enclosed document, please contact your district examiner, regional office, or state supervisory authority.
JoAnn M. Johnson
1The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision.