Effective December 2002, the Federal Reserve Board updated its policy and procedures for sponsoring private-sector organizations under federal programs that provide priority telecommunications services to entities that are important to national security and emergency preparedness. These programs, which are administered by the National Communications System, will help facilitate the operation and liquidity of banks and the stability of financial markets, particularly during periods of substantial operational disruptions. The Board will sponsor eligible organizations that meet the revised critieria for services available under the Telecommunications Service Priority, Government Emergency Telecommunications Service, and the evolving Wireless Priority Services programs.