The Financial Services Sector represents a vital component of our nation's critical infrastructure. Large-scale power outages, recent natural disasters, and an increase in the number and sophistication of cyberattacks demonstrate the wide range of potential risks facing the sector.
The Financial Services Sector includes thousands of depository institutions, providers of investment products, insurance companies, other credit and financing organizations, and the providers of the critical financial utilities and services that support these functions. Financial institutions vary widely in size and presence, ranging from some of the world’s largest global companies with thousands of employees and many billions of dollars in assets, to community banks and credit unions with a small number of employees serving individual communities. Whether an individual savings account, financial derivatives, credit extended to a large organization, or investments made to a foreign country, these products allow customers to:
- Deposit funds and make payments to other parties
- Provide credit and liquidity to customers
- Invest funds for both long and short periods
- Transfer financial risks between customers
The Financial Services Sector-Specific Plan details how the National Infrastructure Protection Plan risk management framework is implemented within the context of the unique characteristics and risk landscape of the sector. Each Sector Risk Management Agency develops a sector-specific plan through a coordinated effort involving its public and private sector partners. The Department of Treasury is designated as the Sector Risk Management Agency for the Financial Services Sector. Presidential Policy Directive 21 changed the name of the Banking and Finance Sector to the Financial Services Sector in 2013.
For resources available to Financial Services Sector partners, go to the Department of the Treasury's website.