The FCC’s Communications Security, Reliability and Interoperability Council (CSRIC) is...

briefing Wednesday. CSRIC will be looking for input from non-licensees, he said. On cybersecurity issues, it seeks to identify best practices among many different existing frameworks, he said. The commission asked many specific questions about the transition to next generation-911 systems, said Laurie Flaherty, a program analyst with the National Highway Traffic Safety Administration. CSRIC’s working group on NG911 seeks to limit the scope of work under the FCC’s purview, she said. Financial institutions rely heavily on telecom infrastructure, said Steve Malphrus from the Federal Reserve’s Board of Governors. He said the Basel II accord, on banking laws and regulations issued by the Basel Committee on Banking Supervision, is intended to promote a more forward-looking approach on capital supervision that encourages banks to identify the risks they may face. Basel II risk event types include business disruption and system failures like utilities such as telecom and power, software and hardware failures, he said. Basel II also seeks to improve on the existing rules for managing credit and market risks by aligning regulatory capital requirements more closely to address the operational risks, which include risk of inadequate or failed telecom and information technology infrastructure and services, he said.