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In response to the events of September 11th, the Office of the Comptroller of the Currency, Federal Reserve Board, and Securities and Exchange Commission jointly issued a white paper on September 5, 2002 titled Draft Interagency White Paper on Sound Practices to Strengthen the Resilience of the U.S. Banking System. The purpose of this paper was to solicit commentary from the banking industry on proposed regulatory changes designed to increase the security and resiliency of the banking system in a post-September 11 environment.
The issuance of this paper combined the resiliency requirements for multiple regulatory agencies, which had not been common practice ...