Financial Update (First Quarter 2008)

Free Crisis Preparedness Video Available From the Atlanta Fed

Crisis Preparedness graphicThe Federal Reserve Bank of Atlanta has produced a video program designed to help financial institutions and first responders prepare for emergencies, including hurricanes, pandemics, and floods.

The free video is available to download or order in DVD format from the Atlanta Fed Web site.

Learning from others' experiences
The video, Crisis Preparedness: Reconnecting the Financial Lifeline, explores lessons learned from Hurricane Katrina and other disasters as well as steps taken afterward. Interspersing storm footage with interviews featuring Atlanta Fed officials, bankers, and emergency first responders, the film conveys the message that preparedness helps prevent business losses and helps consumers find their financial footing during a crisis. The video also explains the Federal Reserve's role during emergencies.

Download or order video
Audio icon Podcast on crisis preparedness (MP3 6:27)

The case studies in the video include

  • a community bank in coastal Mississippi that is constructing a data center 20 miles inland after Katrina destroyed its headquarters on the Gulf;
  • A Louisiana bank that secured permission for its staff to gain access to restricted areas to open for business immediately after a disaster, as Katrina taught government authorities and bankers that people have a strong need for cash after a calamitous event;
  • A bank center in Birmingham, Ala., where employees monitor conditions such as weather for 1,900 offices in 16 states; and
  • Mississippi police officers and firefighters who describe a renewed appreciation for the postdisaster role of financial institutions.

Video intended to fortify future emergency responses
"We believe bankers and first responders alike will find value in this video based on the lessons learned from Katrina and other disasters," said Lynne Anservitz, the Atlanta Fed's publications and special projects director. "We appreciate the cooperation of the people and organizations featured in the film. What they have learned and what the Federal Reserve has learned will help to further strengthen the financial system's resilience for the next crisis."

In addition to bankers from Biloxi, Birmingham, Gulfport, Lafayette, and New Orleans, the documentary includes interviews with Atlanta Fed First Vice President Patrick Barron and Adrienne Slack, administrator of the Atlanta Fed's Cash Function Office, based in the New Orleans Branch. Barron and Slack discuss the Atlanta Fed's response to hurricanes and other disasters and lessons gathered from successes and problems.

January 25, 2008