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Tuesday, October 25, 2016

Fed, FDIC, OCC toughen up on FI cybersecurity

The Federal Deposit Insurance Corp., Federal Reserve and Office of the Comptroller of the Currency co-authored a new set of guidelines designed to protect critical banking infrastructure. Escalating cyberattacks combined with increasing dependence on connected technologies have raised threat levels across the banking sector, the agencies stated.

Their recommendations, published Oct. 19, 2016, are detailed in Enhanced Cyber Risk Management Standards, an advance notice of proposed rulemaking (ANPR) that addresses cyber risk, internal dependency and external dependency management, as well as incident response, cyber resilience and situational awareness.

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