Disaster Recovery

Excerpts from the FDIC Statement of Policy #5306

"The appendix to this policy provides an example of a process that management may consider in developing contingency plans. It is an outline and is not all encompassing. Each financial institution needs to assess its own risks and develop strategies accordingly. This planning process needs to address each critical system and operation, whether performed on site, at a user location, or by service bureau."

"BII. Obtain written backup agreements/contracts:

·         Facilities

·         Hardware

·         Software

·         Vendors

·         Suppliers

·         Disaster recovery services"