Friday, March 27, 2020

Treasury secretary releases memorandum identifying bank, other financial services as part of Critical Infrastructure Sector

The secretary of the treasury released a memorandum late Sunday night identifying the financial services sector as part of the nation’s Critical Infrastructure Sector by the Department of Homeland Security.

Treasury Secretary Steven Mnuchin sent the memorandum, which stated the essential critical infrastructure workforce for the financial sector includes:

• Workers who are needed to process and maintain systems for transactions and services, such as payment, clearing and settlement services, wholesale funding, insurance services and capital market activities.

• Banks and other financial institutions that provide consumer access to banking and lending services, including ATMs, and movement of currency (e.g. armored cash carriers).

• Support financial operations, such as those staffing data and security operations centers.

• Key third-party providers who deliver core services.

Companies aligned to the essential critical infrastructure worker definition are expected to maintain their operations and work schedules.

You can click here to read the entire memorandum.