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The Federal Reserve has sent a wake-up call to bank executives who don’t have business continuity plans in place for a possibly devastating flu pandemic. “No individual or organization is exempt from the potential adverse effects,” warned Roger T. Cole, director of the Fed’s division of banking supervision and regulation, in a Dec. 12 letter to all banking organizations under its jurisdiction. In that missive, the Fed provided criteria for adequate pandemic planning that included preventive programs to minimize the impact of an outbreak; documented strategies to deal with progressively worsening conditions; a comprehensive infrastructure of facilities and staff to handle the outbreak; and testing and oversight programs.

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