Federal banking regulators are urging financial institutions and their technology providers to start preparing contingency plans for a possible outbreak of avian flu so that they can continue to provide essential services during a pandemic.Lenders should review a White House publication called the "National Strategy" that discusses the threat and potential impact of a pandemic influenza, according to an advisory issued by the federal banking regulators. "A pandemic event is a potential threat to any financial institution regardless of size or location," the advisory says. Institutions should make preparations for employee safety and for operating during times of high employee absenteeism or quarantines. The National Strategy advises companies to establish "partnerships with other members of the sector to provide mutual support and maintenance of essential services during a pandemic."

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry