This guidance identifies actions that financial institutions should take to minimize the potential adverse effects of a pandemic. The business continuity plan should address pandemics and provide for:
- a preventive program,
- a documented strategy scaled to the stages of a pandemic outbreak,
- a comprehensive framework to ensure the continuance of critical operations,
- a testing program and
- an oversight program to ensure that the plan is reviewed and updated.
The pandemic segment must be sufficiently flexible to address a wide range of possible effects that could result from a pandemic, and also be reflective of the institution’s size, complexity, and business activities.