JDR Vol.10 No.1 pp. 151-162
doi: 10.20965/jdr.2015.p0151


Analysis of the Banks’ Initial Reactions with the 9/11 and 3/11

Yasutake Sayanagi and Kenji Watanabe

Nagoya Institute of Technology, Gokiso-cho, Showa-ku, Nagoya, Aichi 466-8555, Japan

April 1, 2014
October 27, 2014
February 1, 2015
bank, finance, BCM, BCP, disaster
The purpose of this paper is to analyze the initial reactions of banks with the disaster to improve the resiliency of banking industry and encourage banks to share more disaster related information in the industry to help each other. Two severe cases in the banking industry were picked up, one for the 3/11 Great East Japan Earthquake of 2011 (3/11 or 311) and the other for the 9/11 terrorist attack of 2001 (9/11 or 911). In addition, to support identifying the issues of the banks, this study refers to the case of Otsuchi Town Hall that had serious damages by the 3/11 Great East Japan Earthquake of 2011, as it is difficult making a direct comparison with some points between Iwate Banks and Fuji Bank. Those are analyzed in comparison with the other case of the Otsuchi Town Hall. Those cases are discussed from the various angles such as the immediate tasks they have to perform when disaster happens (the Day Zero Duty), the recovery location strategy, BCMPolicy and Crisis leaders. Potential conflicts were found between the BCM policy and the Day Zero Duty as well as the quick decision making and having too many recovery options etc.
Cite this article as:
Y. Sayanagi and K. Watanabe, “Analysis of the Banks’ Initial Reactions with the 9/11 and 3/11,” J. Disaster Res., Vol.10 No.1, pp. 151-162, 2015.
Data files:
  1. [1] BOJ Report, September, 2012, ron130315a.pdf [accessed Jan. 21, 2015]
  2. [2] Japan Bankers Association (JBA), March, 2013, news250327_1.pdf [accessed Jan. 21, 2015]
  3. [3] Committee on Financial Affairs report (House of Councillors), June, 2014, [accessed Jan. 21, 2015]
  4. [4] GAO-03-251 (U.S. Government Accountability Office), Potential Terrorist attacks: More Actions Needed to Better Prepare Critical Financial markets, May, 2005, [accessed Jan. 21, 2015]
  5. [5] BOJ Report, “The economical impact of the Niigataken Chuetsu earthquake (October 2004) and the Niigataken Chuetsu-oki earthquake,” August, 2007, [accessed Jan. 21, 2015], [accessed Jan. 21, 2015]
  6. [6] The Otsuchi Tsunami disaster review report by the official review committee, March, 2014, [accessed Jan. 21, 2015]
  7. [7] F. Yamashita, “Tsunami Tendenko,” Shin Nihon Shuppan, January, 2008 (in Japanese).
  8. [8] Otsuchi Town Home Page, July, 2014, [accessed Jan. 21, 2015]
  9. [9] Otsuchi Town regional disaster prevention plan (Chapter 2-9-2-3. Only the revised version is available now), [accessed Jan. 21, 2015]

*This site is desgined based on HTML5 and CSS3 for modern browsers, e.g. Chrome, Firefox, Safari, Edge, Opera.

Last updated on Apr. 22, 2024