Which council provides guidelines and standards for financial institutions, including Business Continuity and Disaster Recovery (BCDR) capabilities?

The Federal Financial Institutions Examination Council (FFIEC) provides comprehensive guidelines and standards specifically tailored for financial institutions, addressing critical areas such as Business Continuity and Disaster Recovery (BCDR) capabilities. The FFIEC is a formal interagency body composed of several U.S. financial regulatory agencies that aims to enhance the coordination and effectiveness of financial institution examinations.

One of the key focuses of the FFIEC is to ensure that financial institutions have effective strategies and plans in place for business continuity and disaster recovery, helping them to maintain operations during unforeseen events. The guidelines set forth by the FFIEC emphasize the importance of risk management, preparedness, and recovery strategies, which are essential for safeguarding the integrity and stability of the financial sector.

In contrast, while the Sarbanes-Oxley Act (SOX) and the Gramm-Leach-Bliley Act (GLBA) impose certain regulations on financial practices and consumer data protection, they do not focus specifically on business continuity and disaster recovery planning. Additionally, Disaster Recovery as a Service (DRaaS) is a service model that provides organizations with a way to protect and recover data, but it is not a regulatory council that sets standards for financial institutions. Thus, the FFIEC stands out as the appropriate choice for guidelines and