How will federal banking regulators respond to growing criticism of the Cybersecurity Assessment Tool issued by the Federal Financial Institutions Examination Council?
There is no formal response yet, but the Federal Deposit Insurance Corp. has issued a new publication that leads some banking and security experts to believe no new guidance is forthcoming.
In its winter edition of Supervisory Insights, the FDIC’s Division of Risk Management Supervision provides a synopsis of cybersecurity guidance, tools and best practices – all of which is meant to hammer home the point that regulatory examiners will continue to scrutinize whether banking institutions are carrying out these recommendations.
