Draft Interagency White Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System

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The Federal Reserve, the Office of the Comptroller of the Currency and the Securities and Exchange Commission are publishing this draft white paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System for comment. The New York State Banking Department and the Federal Reserve Bank of New York also participated in drafting the paper. The New York State Banking Department is issuing the paper separately for comment by interested persons. The federal agencies and the New York State Banking Department are referred to as the "agencies" in the paper. The paper discusses the views of the agencies on sound practices based on discussions with industry representatives on how the events surrounding September 11, 2001, have altered business recovery and resumption expectations for purposes of ensuring the resilience of the U.S. financial system and seeks comments on those views.