Federal Reserve Financial Services (FRFS) recognizes that storms or natural disasters can disrupt financial institutions’ normal business operations. To help maintain essential financial services, rain or shine, please refer to the information below to plan and execute your contingency response.
Prepare in advance
Communication is a critical component in a successful contingency response. To help ensure you can effectively communicate during and after a storm or other disruptive event:
- Review the FedLine® Solutions Business Continuity Guide page
- Print critical telephone numbers and contingency instructions and distribute them to your staff
- Verify accuracy of agreements and test your contingency backups, particularly those service areas that are most critical for Fedwire® Funds Service transfers and FedCash®, FedACH® and Check Services
- Host regular staff training sessions to make sure employees are prepared for potential service disruptions
- Review and annually update your contact information with the Federal Reserve Banks:
- Official Authorization List (OAL)
- FedLine End User Authorization Contacts (EUACs)
- FedLine Subscribers
Senior management: Keep at hand the telephone numbers for regulatory agencies, the Support Center and your Federal Reserve relationship manager. Access to these resources can be particularly critical during emergencies. Use the Find Your Contacts search feature on the Contact page to create a directory customized to your routing transit number or to find contact information by service area.
Event watch
- If your institution elects to close before a mandatory evacuation order has been issued, you must provide instructions for handling your ACH and check items by contacting the Support Center via email or at (833) 377-7827.
- You also must provide arrangements for alternative receiving points and sending points.
- Please note that accounting and settlement dollars for those transactions will continue to flow to your account even if the work is held or redirected. Therefore, it is important to monitor your account and maintain sufficient balances.
- You can perform account monitoring using the FedLine Web® Solution. Formalize FedLine Web certificates and FedLine Advantage® Solution procedures for activation at contingency sites.
- To discuss special orders or operating needs for currency and coin, please contact FedCash Services at your local Federal Reserve Office.
Post-event
If you resume operations at your site or a contingency site, we ask that you provide the status of your operations and business resumption information. Contact the Support Center with instructions for handling checks and FedACH transactions.
FRFS maintains comprehensive business continuity plans for all Federal Reserve Financial Services that will be activated in the event of a business disruption. These plans are available for reference on the Business Continuity Resource Center. General disruptions to any of our services also will be reported on the Service Status page.
